The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was last trading marginally higher, near the 102 mark.
The value of the US dollar against a basket of six peers is inversely proportional to the value of the rupee. That is, if the value of the greenback rises, the value of the rupee depreciates, and vice versa.
Crude oil benchmarks slipped on concern about the escalating tensions in the Middle East. At the last count, Brent crude futures were trading 2% higher at $78.39 per barrel. WTI futures, too, were trading higher at $74.87 per barrel.
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.
First Published: Oct 11, 2024 11:58 AM IST