The rupee fell to an all-time low of 78.29 against the US dollar in early trade
Rupee falls: The rupee slipped 36 paise to its all-time low of 78.29 against the US dollar in early trade on Monday, tracking the strength of the US currency overseas as investors turned to the safe-haven currency amid an overall risk-averse sentiment. turned to Forex traders said weak Asian currencies, a weak trend in domestic equities and persistent foreign capital outflow weighed on investor sentiments.
At the interbank forex, the rupee opened at 78.20 against the US dollar, then lost ground to bid at 78.29 – its record low, registering a fall of 36 paise from the previous close.
On Friday, the rupee had lost 19 paise to close at a new life level of 77.93 against the US dollar. Anil Kumar Bhansali, Head, Anil Kumar Bhansali said, “Weak global sentiments and weak Asian and European currencies have allowed the rupee to open lower below 78 after RBI did not cross 77.70. RBI will have to see how it is in the next few days.” How does he behave in days? Treasury K, Finrex Treasury Advisors.
Global oil benchmark Brent crude futures fell 1.46 per cent to $120.23 per barrel. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.30 per cent higher at 104.45.
On the domestic equity market front, the 30-share Sensex was trading 1,461.54 points or 2.69 per cent lower at 52,841.90, while the broader NSE Nifty was trading 418.95 points or 2.59 per cent lower at 15,782.85.
Foreign institutional investors were net sellers in the capital markets on Friday as they sold shares worth Rs 3,973.95 crore, according to stock exchange data.
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