Page 3 - Rupee Fall News Today

The rupee declined by 9 paise to settle at a new record low of 79.90 against the US currency on Thursday due to a firm US dollar in overseas markets and capital outflows.

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Investors reeling from the brutal emerging markets selloff over the past six months again fled the rupee as India's currency hit new lows, prompting the government to curb gold imports and oil exports to arrest a widening deficit.

The worst is still to come for the Indian rupee after its slide in May to a historic low, according to analysts and forward markets.

Indian rupee hits record low at 76.96 against the dollar as crisis in Europe builds - Partially convertible rupee ended at 76.96 against the dollar, just off its record low of 76.97 hit earlier in the session. It closed at 76.16 Friday.

The Indian rupee depreciated 11 paise to 73.72 against the US dollar in opening trade on Wednesday, tracking a strong greenback in the overseas market. Forex traders said a positive trend in domestic equities and sustained foreign fund inflows supported the rupee, but firm crude oil prices and broad strength in the US dollar index dragged the local unit down.

The rupee declined 39 paise against the US dollar in Mondays session, looking set to extend its losing streak to the sixth day in a row as investors were spooked by the fast-rising Covid-19 cases in the country that threaten to derail Indias economic recovery. Meanwhile, investors were also cautious ahead of the release of key macro-economic data later today. The domestic unit slipped to 75.13 versus the US dollar, a level seen in August last year. It had opened at 74.96, down 22 paise, again...