Business

80 Rupees Dollar!

New Delhi, The price of one US dollar finally crossed Rs 80. A day earlier on Tuesday, the price of the dollar had returned after crossing 80, but on Wednesday, after a day’s trading, the rupee fell by 13 paise, after which the price of one dollar closed above Rs 80 for the first time. According to the report of news agency PTI, the price of one dollar was Rs 80.05 till the close of business on Wednesday.

Earlier, according to the agency, the rupee fell by 13 paise to close at a record low of 80.05 per dollar from Tuesday’s closing price of 79.92. On Wednesday, the rupee depreciated by four paise to 79.96 per dollar in early trade on increased demand for the US dollar from importers. Forex traders said the rupee fell due to dollar demand from oil importers amid firm crude oil prices. Besides, concerns over the impact of the rising trade deficit on business sentiment prevailed.

Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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