![]() ![]() On Tuesday, Indian equity indices traded lower in opening deals after rising for two consecutive sessions, taking cues from a broader sell-off in Asian markets, following an overnight slide on Wall Street. The rupee has been battered by an exodus of foreign investors, widening trade and current account deficits and driven by a global stampede into safe-haven US dollars on rising global recession risks.įoreign fund outflows from the country this year are more than the combined inflows of the last two years, with foreign investors pulling out a record $29 billion from Indian assets this year. The Indian currency has plunged over 7 per cent this year, with it closing at a record low in six of the last seven sessions. Reuters and Bloomberg reported on Monday that the partially convertible rupee slumped to a record closing low of around 79.98 against the dollar, versus Friday's close of 79.88.īoth those agencies said that the Indian currency had dropped to an intra-day low of 79.985 per dollar during the session, while PTI said the rupee had briefly hit an intra-day lifetime low of 80. PTI had reported on Monday that the rupee briefly touched an all-time low of 80 per dollar mark, but closed just below that key psychological level. The partially convertible rupee was trading at 79.93/94 per dollar after hitting a record low of 80.05, weakening from 79.97 close on Monday, added Reuters. Reuters said the Indian rupee hit a seventh straight session of record lows on Tuesday as weakness in domestic shares weighed, but dollar selling intervention by the central bank helped limit further losses. PTI quoted the rupee at an all-time low of 80.05 against the US dollar in early trade, a gain of 7 paise from the previous close. ![]() ![]() Bloomberg quoted the rupee was last at 80.0163 against the greenback after opening at 79.9863, hitting an intra-day record low of 80.0175. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |