Rupee hits record low against US dollar

The Indian Rupee is likely to depreciate on Tuesday amid risk aversion in the global markets, persistent FII outflows and firm dollar. The local unit extended its losses and slumped 60 paise to close at all-time low of 77.50 against the US dollar in the previous session, pressured by the strength of the greenback overseas and unabated foreign fund outflows. Risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks, according to analysts. “A sell-off in the global equity markets which was triggered by the hike in interest rates by the U.S. Federal Reserve, the war in Europe and growth concerns in China due to the COVID-19 surge, led to the rupee depreciation,” Emkay Global Financial Services said in a note.

Rupee may depreciate on firm dollar, risk aversion in markets, FII outflows; USDINR to trade in this range

Rupee rises to 77.24 against US dollar in early trade

Rupee likely to hit 78 per dollar by May-end; hits fresh all-time low

Rupee jumps against US dollar, a day after sliding to all-time lows

Rupee hits record low against US dollar


Leave a Reply

Your email address will not be published. Required fields are marked *