Rupee Slumps And Breaches 76-Mark Per Dollar For First Time In 2022

The Indian rupee slumped breached past the 76 per dollar mark on Friday to touch its lowest level since mid-December.

The Indian rupee slumped past the 76 per dollar mark on Friday to touch its lowest level since mid-December, as the deepening crisis in Ukraine pushed Asian shares toward 16-month lows.

Persistent foreign fund outflows and a weak trend in domestic equities too weighed on the Indian currency, with traders watching for potential central bank intervention.

The rupee slumped 0.3 per cent to 76.16 against the US dollar after touching 76.1750 - its lowest since Dec. 17. The currency had closed at 75.91 on Thursday.

For the week, the currency has weakened over 1 per cent, marking a second straight week of losses.