Rupee Plunges To All-Time Low Of 82.33 Against Dollar

New Delhi: Owing to a rise in US bond yields and the firming up of crude oil prices, the Indian Rupee on Friday fell sharply to its all-time low of 82.33 against the Dollar.

The Rupee had closed at 81.89 on Thursday. It was trading at 82.30 against the dollar in the morning after opening at 82.19 a dollar. Later, it touched an all-time low of 82.33 against the dollar.

The all-time low plunge in the rupee has come a day after the World Bank had on Thursday cut India’s growth forecast for this financial year by a full percentage point amid rising inflation and adverse geo-political conditions.

The rupee has fallen over 10% this year and reached an all-time low of 82.33 per dollar on Friday, news agency PTI reported, even though the Reserve Bank of India continues to sell its forex reserves to defend the local currency.