Mumbai: The rupee has depreciated to 81.93 against the dollar on Wednesday, sources said. The rupee opened at 81.90 against the dollar and fell to 81.93. It was 81.58 on Tuesday. According to financial experts, the dollar index which was at a 20-year high had led to sharp fall in the rupee in the past seven days. There may be further pressure on the rupee, they said, adding that it will be difficult for the Reserve Bank of India (RBI) to continue selling the Dollar aggressively any longer.
Nevertheless, to stop the fall of value of the rupee, the apex bank may increase repo rates to defend against pressure on INR. Meanwhile, the Brent crude oil was trading at $85.26. The Sensex, too, has fallen by 112.02 points and Nifty by 38.30 points.
