Rupee falls 7 paise to all time low of 80.05 against US dollar in early trade

The Indian rupee fell to the level of Rs 80 per dollar for the first time on Tuesday, July 19. This is the all-time low of rupee as the rupee was witnessing a steady decline for the last few days, after that the apprehension almost turned into confidence that the rupee would cross $80. In the previous session, the rupee had closed at Rs 79.97 per dollar. In comparison, today it opened at a price of $ 79.98 per rupee. However, soon after that it fell to the level of Rs 80.05 per dollar.

The rupee on Monday declined by 16 paise to 79.98 against the US currency in the interbank foreign exchange market to close at 79.98 per dollar. During trading, it had gone down to a psychological low of Rs 80 per dollar for a short time. Traders said that the reason for the fall in the rupee is the rise in crude oil prices and continued outflow of foreign capital from the market.

On Monday, Finance Minister Nirmala Sitharaman said that the rupee has fallen by 25 per cent against the rate of December 31, 2014, according to RBI data. The rupee was 63.33 against the dollar on December 31, 2014, which has been recorded at Rs 79.41 per dollar on July 11, 2022. This is a drop of up to 25 percent.