Rupee Falls to All-time Low of 78.29 Against U.S. Dollar

Story Highlights
  • Rupee stands at 78.29 against 1 Dollar in early trade on Monday.
  • Rupee breached the 78-mark for the first time.
  • Global oil benchmark Brent crude futures fell 1.46 per cent to $120.23 per barrel.

The Indian rupee fell to a new all-time low of 78.29 against the US dollar on Monday in the early trade. At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar, then lost ground to quote at 78.29 its record low level, registering a fall of 36 paise from the last close.

Rupee breached the 78-mark against the US dollar for the first time. On Friday, the rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the U.S. dollar.

Meanwhile, the benchmark 10-year bond yield rose to its highest in more than three years as investor concerns over faster rate increases in the United States resurfaced following US inflation data.

The Indian Rupee has been plunging amidst the surging global crude oil prices from the past few sessions.

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