Rupee Hits All time Low Against Dollar

Story Highlights
  • 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.

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