MUMBAI: The rupee slumped 31 paise to settle at an all-time low of 84.03 (provisional) against the US dollar on Monday, following a sell-off in broader global markets amid rising geopolitical tensions in the Middle East and worries over recession in the US. At the interbank foreign exchange market, the local unit opened at 83.78 and touched an intra-day high of 83.76 and a low of 84.03 against the dollar during the session. It finally settled at its fresh record of 84.03 (provisional) against the American currency, which was down 31 paise against its previous close. On Friday, the rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade. "We expect the rupee to trade with a negative bias on risk aversion in the global markets.

Source: Indian Express August 05, 2024 11:21 UTC