Rupee vs Dollar: Rupee continues to fall against the US dollar, reaches all-time low of 84.50

New Delhi: The Indian Rupee seems to be continuously falling against the US Dollar. It also fell 8 paise to close at a new low of 84.50 (provisional) on Thursday. The rupee had also touched the level of 84.51 paise during the day's trading. Earlier, the lowest closing level of the rupee was Rs 84.46, which it had made on November 14. Fraud and bribery allegations against Adani Group led to the withdrawal of foreign investors from the equity market. Due to this, capital flight continues from the Indian market, which is hurting the rupee a lot.

According to forex traders, the US currency strengthened due to safe-haven appeal amid ongoing tensions in Russia and Ukraine, while continued outflow of foreign funds also weighed on the domestic unit. The rupee opened at 84.41 at the interbank foreign exchange market and touched an all-time low of 84.51 against the dollar during intra-day.

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Rupee closed at 84.51

The rupee closed at 84.51 (provisional) against the dollar at the end of the session. Thus, the rupee crossed its previous all-time low closing level of 84.46 recorded on November 14. On Tuesday, the rupee had closed steady at 84.42 against the US dollar.

Profit or loss due to rupee collapse

Let us tell you that how much benefit and how much loss will be caused by the fall in the value of the currency of any country depends on the condition of its economy. Countries that export more benefit from currency depreciation because their exports become cheaper and more competitive than other countries.

If someone sends dollars from outside, its value will also increase in rupees. This can also boost the tourism sector, because the cost of travel or medical treatment for foreigners will be less.