Rupee Falls 14 Paise to Close at 94.82 Against US Dollar

The rupee fell 14 paise to its all-time low of 94.82 (provisional) against the US dollar on Wednesday, as a result of persistent foreign capital outflows and increasing Brent Crude Oil prices, which were trading at around USD 115 a barrel, according to the reports.

The high price of crude oil is expected to have a significant impact on India’s import costs, according to forex traders, while investor worry is being stoked by the current situation in West Asia and fears about a potential broader conflict. Additionally, analysts stated that investors were waiting for signals from the forthcoming US Federal Reserve policy decision, reported by the PTI.

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Meanwhile, Indian shares increased significantly on Wednesday, limiting the downside in the market despite mixed signals from international markets and mounting worries about rising energy costs.

The Nifty 50 gained 181.95 points (0.76%) to finish at 24,177.65, while the Sensex ended the day with a gain of 609.45 points (0.79%) at 77,496.36, as per the reports.