News > Rupee recovers from record low

Rupee recovers from record low

The Siasat | 16/06/2022 07:47 PM | Click to read full article

The rupee recovered from its record low to close 12 paise higher at 78.10 against the American currency on Thursday, tracking the overnight weakness of the dollar and falling crude oil prices.

The dollar index fell from its elevated levels after the Federal Reserve raised interest rates by 75 basis points in a historic move to fight inflation and projected a slowing economy and rising unemployment in the months to come, traders said.