Rupee hits all-time low of 83.29 against U.S. dollar
The Hindu
The rupee closed at the record low of 83.29 against the dollar
The rupee depreciated for the fourth straight day to settle 13 paise lower at its lifetime low of 83.29 (provisional) against the US dollar on Monday, mainly due to risk aversion in global markets and rising crude oil prices.
Besides, a strong American currency against key rivals overseas and a negative trend in domestic equities weighed on investor sentiments, according to Forex traders.
At the interbank foreign exchange, the domestic unit opened at 83.09 against the dollar and traded in the range of 83.09 to 83.30 against the greenback.
The rupee finally closed at the record low of 83.29 against the dollar, registering a fall of 13 paise from its previous close.
On Friday, the rupee fell 13 paise to settle at 83.16 against the U.S. dollar.
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