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Rupee Closes At New All-Time Low of 77.72 Against US dollar

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Mumbai: The Indian rupee closed at a new all-time low of 77.72 against the US dollar on Thursday. It marked the fifth record weak close for the rupee in the last 10 trading sessions.

At the interbank forex market, the rupee opened at 77.72 against the greenback and finally closed at 77.72, down 10 paise over its previous close.

The rupee touched day’s low of 77.76 and a high of 77.63 during the trading session. On Wednesday, the rupee had closed down by 18 paise at 77.62.

“Rupee consolidated in a narrow range despite sharp sell-off in domestic and global equities. The dollar also retraced from higher levels after economic numbers released from the US came below estimates,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.28 per cent lower at 103.51.

Global oil benchmark Brent crude futures fell 1.87% to $107.07 a barrel.

The 30-share BSE Sensex closed 1,416.30 points or 2.61% lower at 52,792.23, while the broader NSE Nifty closed 430.90 points or 2.65% lower at 15,809.40.

Foreign institutional investors were net sellers in the capital market on Wednesday, as they offloaded shares worth ₹1,254.64 crores, as per stock exchange data.

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