homemarket Newscurrency NewsRupee closes at all time low of 77.50 against US dollar

Rupee closes at all-time low of 77.50 against US dollar

Pressured by the strength of the American currency overseas and unabated foreign fund outflows, the rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close.

By PTI May 9, 2022 5:55:22 PM IST (Updated)


The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. Forex traders said risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks.
At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close. During the trading session, the rupee touched its lifetime low of 77.52.
On Friday, the rupee had slumped 55 paise to close at 76.90. In the last two trading sessions, the rupee has lost 115 paise against the greenback.