The rupee breached the 80 mark against the US dollar for the first time on July 19, 2022, and has since hit a series of lows.
The dollar index was last trading near the 103 mark, up half a percent. This index measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro. The value of the US dollar against a basket of six peers is inversely proportional to the value of the rupee. Thus, if the value of the greenback rises, the value of the rupee depreciates, and vice versa.
Crude oil benchmarks held onto the gains from the previous session. At the last count, brent crude futures were trading 0.4% higher at $76.6 per barrel. WTI futures, too, were trading half a percent higher at $73.32 per barrel.
