13 Jun 2022

Rupee Drops Under 78 Compared To US Dollar First!

The Indian Rupee dropped below 78 compared to the US dollar on Monday pulled out of the foreign exchange market among the selloffs in the stock markets. The rupee broke the 78th mark against the US dollar for the first time.

In the foreign exchange market, the slow-moving rupee started the day at $ 78.14 compared to its previous close at 77.84. The rupee fell to 78.23 against the US dollar in the morning trading.

The constant depletion of the dollar from the Indian stock markets and bonds has led to a sharp decline in the value of the Indian currency.

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