The rupee opened lower at 77.17 against the US currency after falling by 9 paise at the interbank forex market.
Rupee slips against US dollar.
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- The rupee closed at 77.68 against the US dollar on Wednesday
- The rupee had hit a low of its standard of living on Tuesday
- Sensex and Nifty in red mark
The rupee fell to its lowest level against the US dollar in early trade on Thursday. High international oil prices and frequent foreign capital outflows have played important factors.
The rupee opened lower at 77.17 against the US currency after falling by 9 paise at the interbank forex market.
On the domestic equity market front on Thursday, the BSE Sensex fell 0.21 per cent or 117.65 points to end at 54,774.84, while the broader NSE Nifty fell 0.21 per cent or 33.85 points to end at 16,356.25.
The rupee on Wednesday recovered from its lifetime low to settle 10 paise higher at 77.68 against the US dollar. Reserve Bank of India (RBI) increased the interest rate An increase of 50 basis points to contain inflation.
The rupee had hit a lifetime low of 77.78 on Tuesday.
The RBI on Wednesday hiked the key interest rate by 50 basis points, the second hike in five weeks, to rein in the rise in prices, which it saw hurting consumers in the near term.
The rate hike comes on the back of a 40 bps hike impacted by the RBI in an unscheduled meeting on May 4.
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