Mumbai: The rupee extended its losses and touched an all-time low of 77.42 against the US buck in early substitute on Monday weighed down by the strength of the American forex in the in one other nation market and unabated foreign fund outflows.
At the interbank foreign alternate, the rupee opened at 77.17 against the American buck, then lost ground to quote at 77.42, registering a fall of 52 paise from the closing stop.
On Friday, the rupee had slumped 55 paise to forestall at 76.90 against the US buck.
The Indian rupee opened weaker on Monday against the buck as weakness in world equities on concerns over economic outlook and rising bond yields weighed on sentiments, said Sriram Iyer, Senior Learn Analyst at Reliance Securities.
Foreign substitute merchants said, risk stride for meals has weakened amid mounting concerns about inflation that can probably probably well trigger extra aggressive rate hikes by the world central banks.
The buck index, which gauges the buck’s strength against a basket of six currencies, used to be procuring and selling 0.35 per cent elevated at 104.02, monitoring rising US yields and fears about elevated rates of interest.
Furthermore, Asian and emerging market mates began archaic this Monday morning and might maybe probably probably well gentle weigh on sentiments.
On the home equity market entrance, the 30-portion Sensex used to be procuring and selling 737 facets or 1.34 per cent lower at 54,098.58 facets, while the broader NSE Nifty declined 220.25 facets or 1.34 per cent to 16,191.00 facets.
Global oil benchmark Brent grievous futures rose 0.14 per cent to USD 112.55 per barrel.
Foreign institutional buyers were acquire sellers in the capital market on Friday, as they offloaded shares rate Rs 5,517.08 crore, as per inventory alternate data.
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