The rupee on Monday drifted down to near-80 levels against the dollar, hitting 79.9825 in intra-day trades as Brent prices rose to over $103/barrel. It ended at 79.9800 against the dollar, down 0.13 % over Friday’s close. So far in 2022, the rupee has depreciated around 7%, primarily because of the dollar index having strengthened to the levels of 108. The Reserve Bank of India (RBI) is believed to have intervened in the currency markets on Monday, amid demand from importers for dollars. “There was a bit of a scramble for dollars by importers and the central bank did step …
