The Rupee has been falling weak against the US dollar in a row for quite some time now. The Rupee on Monday touched the new lowest vs the dollar, with an increased sell-off resulting from the good US jobs report which hints at more aggressive hikes from US Federal Reserve.

Rupee declined 37 paise, to a record low of 82.67 versus the US currency. Due to worries about FII outflows, rising oil costs, declining interest from domestic investors, rising US Treasury yields, and demand for the US dollar, the Indian rupee had been declining and recording record lows. In the week ending September 30, the nation’s foreign exchange reserves fell to $532.66 billion, the lowest level since July 2020. Last week, it was $537.5 billion.

The Reserve Bank of India’s (RBI) measures did little to stop the rupee’s slide. Traders claimed that as the local currency crossed the 82-mark for the first time, the central bank sold dollars via state-run banks.
The US labour market is slowing down, but an unexpected decline in the unemployment rate has raised hopes that the Federal Reserve would keep up its aggressive tightening of monetary policy, driving more capital to the dollar and driving away investors from other currencies.
On Monday, US Treasury rates increased as the US dollar index approached the 113 level.
After extending their surge with a nearly 4% increase on Friday to five-week highs, oil prices dropped on Monday. On Monday morning, domestic markets declined as the Sensex dropped more than 700 points in the early going.