Monday, March 17, 2025 | 04:59 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Rupee sheds 21p to dollar as Polish missile strike sparks risk aversion

Wider October trade deficit, contraction in exports drag down rupee

Rupee, Indian Rupee, Indian currency
Premium

Photo: Reuters

Bhaskar Dutta Mumbai
The rupee weakened on Wednesday as a missile strike in Poland sparked concerns of an escalation of geopolitical conflicts amid the ongoing war between Russia and Ukraine.

A wider domestic monthly trade deficit and a contraction in exports for the first time in two years also weighed on the rupee.

The local currency closed at 81.31 to the dollar as against 81.10 on Tuesday. So far in 2022, the rupee has depreciated 8.6 per cent against the greenback.

Polish authorities said early on Wednesday that a missile made in Russia had killed two people. The incident led to fears of

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in