Rupee Hits All time Low Against Dollar
- The Rupee weakened to an all-time low against the dollar in opening trade on Tuesday.
- Rupee falls to 77.69 against US Dollar.
- On a weekly basis the Rupee depriciated 65 paise.
New Delhi: The Rupee weakened to an all-time low against the dollar in opening trade on Tuesday tracking persistent foreign fund outflows and elevated global crude oil prices. This comes even as the Sensex rose for a second consecutive session on Tuesday.
The greenback has edged from a two-decade high this week and was a touch softer across the board in early Asia trade, while US bond yields, an important boost to the dollar, have pulled back slightly as traders reckon aggressive near-term hikes will drag on longer-run economic growth.
The rupee fell 14 paise to 77.69 against the US dollar in early trade on Tuesday from the previous record low of 77.50 on Thursday, after hitting a fresh intra-day weak level of 77.63 against the dollar.
On Friday, the currency recovered to end at 77.31 as the RBI intervened in the open market to stem losses.