Time to remit: Indian rupee drops in opposition to UAE dirham, US greenback – Information

The rupee declined 10 paise to shut at an 18-month low of 75.88 on Tuesday.

Printed: Wed 15 Dec 2021, 9:38 AM

The Indian rupee dropped under 76 in opposition to the US greenback on Wednesday as persistent international fund outflows and Omicron worries saved the stress on the South Asian foreign money.

On the Indian interbank international trade, the rupee opened on a weak observe at 76.05, then misplaced additional floor and touched 76.10 in opposition to the greenback (20.73 versus the UAE dirham) in early offers, registering a fall of twenty-two paise over its final shut.

The rupee declined 10 paise to shut at an 18-month low of 75.88 on Tuesday.

Merchants mentioned the decline within the rupee has additionally been pushed by the concern of the speedy unfold of the Omicron variant. Delhi has reported 4 extra circumstances of Omicron whereas eight extra individuals have examined optimistic for the Covid-19 variant in Maharashtra on Tuesday, taking the tally within the nation to 61.

In the meantime, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies fell 0.06 per cent to 96.51.

On the home fairness market entrance, the 30-share Sensex was buying and selling 279.59 factors or 0.48 per cent decrease at 57,837.50, whereas the broader NSE Nifty fell 79.25 factors or 0.46 per cent to 17,245.65.

(With inputs from PTI)

Supply hyperlink