INR opens lower on trade deficit woes

Reuters | | Updated on: Aug 04, 2022

The rupee was trading at 79.34 per U.S. dollar, compared with the previous close of 79.16.

The Indian rupee opened lower against the dollar on Thursday, building on Wednesday's decline amid concerns over the nation's record trade deficit.

The rupee was trading at 79.34 per U.S. dollar, compared with the previous close of 79.16.

A trader at a state-run bank told Reuters that Thursday's decline was primarily on worries around how India would fund its record trade deficit at a time when the U.S Federal Reserve is increasing interest rates.

Published on August 04, 2022
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