The rupee opened at 77.81 and saw an intra-day high of 77.79 and a low of 77.87 against the US dollar.
The rupee opened at 77.81 and saw an intra-day high of 77.79 and a low of 77.87 against the US dollar.
Rupee breaks 11 paise lower at new life level of ₹77.85 (Provisional) against US Dollar on Friday Investor sentiment was hit in the form of a selloff in domestic equities and a strong greenback overseas.
Forex traders said continued foreign capital outflows, rise in global crude oil prices and risk aversion sentiments also weighed on the rupee.
in interbank forex Market, Rupee ₹77.81. open on And an intra-day high of ₹77.79 and low of ₹77.87 was witnessed against the US Dollar.
The rupee finally settled at its all-time low of Rs 77.85, down 11 paise from its previous close of Rs 77.85.
“The Indian rupee plunged to a record low amid risk-averse sentiment, weak macro data and a strong dollar index. The rupee marked a new record low of 77.8725 as the central bank stays afloat while importers run for the dollar,” said Dilip Parmar, Research Analyst, HDFC Securities.
Parmar further said that overriding global central banks to fight inflation with higher interest rates remains a headwind for riskier assets and favors dollar bulls.
“On the domestic front, spot USD-INR is expected to consolidate with a bullish bias between Rs 77.50 to Rs 78.30,” he said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.20% to 103.43.
Global oil benchmark Brent crude futures rose 0.51% to $123.70 a barrel.
On the domestic equity market front, the BSE Sensex closed 1,016.84 points or 1.84% lower at 54,303.44, while the broader NSE Nifty closed 276.30 points or 1.68% lower at 16,201.80.
Foreign institutional investors were net sellers in the capital markets on Thursday as they sold shares worth 1,512.64 crore, according to stock exchange data.