Rupee falls 30 paise to hit record low of 77.55 against US Dollar

May 12, 2022
May 12, 2022IANS - Mumbai

The Indian rupee on Thursday plunged 30 paise to hit an all-time low of 77.55 against the U.S. dollar amid a broader decline in Asian currencies and a lacklustre trend in the domestic equity markets. The rupee slipped to a record low for the second time this week.

Foreign fund outflows and elevated crude oil prices also impacted the domestic unit, forex traders said.
At the interbank foreign exchange, the rupee opened sharply lower at 77.52 against the American dollar, then lost further ground to quote 77.55, registering a fall of 30 paise from the last close. In initial deals, the domestic currency was moving in a range of 77.50 and 77.57.
In the previous session, the rupee had settled at 77.25 against the dollar.