Rupee Rises 6 Paise To 82.75 A Dollar, But Ends 12% Lower In 2022

The rupee rose slightly on Friday, but ended the year 12 per cent lower against the US dollar, which was headed for its best year since 2015.

On the last interbank foreign exchange trading day of the year, the rupee was changing hands at 82.7487 per dollar, compared to its previous close of 82.8087 on Thursday, according to Bloomberg.

“Despite today being the quarter end, the rupee could not make much headway as it remained in a range of 82.69 to 82.81 even as the dollar index was down,” said Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors.

The domestic currency has fallen dramatically this year, from about 74 before the Ukraine crisis to multiple record lows beyond 83 per dollar, a level never seen before.

2022 has been a turbulent year for financial markets, marked by the Russia-Ukraine war, near decade-high global inflation and the resultant aggressive tightening by major central banks worldwide.