Rupee Hits New All-Time Low, Slips To 77.73 Against US Dollar

Mumbai: The Indian rupee has touched a fresh all-time low of 77.73 against the US dollar as oil prices surged to the near the highest level in almost eight weeks. The rupee had ended at 77.45/dollar on Friday.

The partially convertible rupee was trading at 77.73/74 against the dollar, as against 77.45 on Friday. The 1-month non-deliverable forward was trading at 77.96/97 against the dollar.

Indian stock markets were trading up 0.7% with all eyes on the listing of the country’s biggest IPO, state-run Life Insurance Corp, which was later set for the session.

Traders will also watch for central bank intervention if the currency racks up sharper losses during the session.

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