The Rupee Hit Intraday Record Below 77.81 Against The Dollar

The Indian rupee reached a record low against the US dollar on Thursday, as the steady rise in oil prices around the world raised concerns about the continued rise in imported inflation, while the weakening of domestic stocks also hurt.

Mumbai: The Indian rupee reached a record low against the US dollar on Thursday, as the continued rise in world oil prices raised concerns about continued growth in imported inflation, while the weakening of domestic stocks also hurt.

The partially convertible rupee traded at 77.78 / 79 per dollar after reaching a record low of 77.81. The rate of past lives below 77,797 touched on May 17.

Oil prices remained strong near a 13-week high on Thursday after China announced stronger-than-expected exports in May, despite new closure bans in Shanghai preventing the victory. Shares in India are trading slightly lower, but foreign investors have remained net sellers in recent months.