On October 19, with continuing outflows of foreign money and a strong dollar in international markets, the rupee fell 61 paise to go below the 83-mark for the first time. Additionally, higher petroleum prices on global markets and investor aversion to risk hurt the local currency, according to traders. The local currency started out strongly on the interbank foreign exchange market at 82.32 but eventually gave up gains to conclude at an all-time low of 83.01(provisional) against the US dollar, down 61 paise from its previous closing.

Key Points

• On October 19, with continuing outflows of foreign money and a strong dollar in international markets, the rupee fell 61 paise to go below the 83-mark for the first time.

• The local currency started out strongly on the interbank foreign exchange market at 82.32 but eventually gave up gains to conclude at an all-time low of 83.01(provisional) against the US dollar, down 61 paise from its previous closing.