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Rupee hits record low against the dollar

New Delhi: The rupee today depreciated to an all-time low value. The rupee had closed at 77.41 against the dollar in yesterday’s trade. The rupee had touched a record low of 76.98 in March. The rupee depreciated further against the dollar. The rupee had lost 55 paise to close at 76.90 against the US dollar in early trade on Friday.

Forex dealers said fresh capital inflows into equities by foreign investors and a weak opening in the stock market also kept the rupee sentiment firm. Experts say the tightening of the covid lockdown in Shanghai could seriously affect all Asian stocks. Against this backdrop, the rupee is likely to depreciate further.

Forex dealers said besides the rise in bond yields and a weak opening in the stock market, the Indian rupee was heading for a record low against the dollar. At the National Stock Exchange, the Sensex was down 1.34 percent and the NSE Nifty was down 21.34 percent.

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