Rupee set to touch 80 per dollar mark

New Delhi : The Indian Rupee on Thursday briefly touched Rs 80 per dollar mark as it settled around 79.94 mark. On the day, the rupee declined by 9 paisa. 

However, the value loss of Rupee against dollar was restricted amid declining crude oil prices in the international market.

In the early trade, the value of Rupee had appreciated by 7 paisa, but by the end of the day it declined to 9 paisa.

Currency depreciation is inflationary and directly reduces the purchasing power of individuals, translating into more expensive overseas holidays, higher fees for overseas education of children, and higher spending on imported goods – food, medicines, wines, cars, mobiles, laptops, etc.