The rupee slipped 36 paise to its all-time low of 78.29 in opposition to the US greenback in early commerce on Monday, monitoring the power of the American forex abroad as traders flocked to the safe-haven forex amid an total risk-averse sentiment.
Forex merchants mentioned weak Asian currencies, a lacklustre pattern in home equities and protracted international capital outflows weighed on investor sentiments.
At the interbank international change, the rupee opened at 78.20 in opposition to the American greenback, then misplaced floor to cite at 78.29 — its file low degree, registering a fall of 36 paise from the final shut.
On Friday, the rupee tumbled 19 paise to shut at a recent lifetime low of 77.93 in opposition to the US greenback.
Best of Express PremiumPremiumPremiumPremiumPremium
“Weak global sentiments and weak Asian and European currencies have allowed the rupee to open below 78 after RBI ensured it did not cross 77.70. Have to watch the RBI as to how it behaves in the next few days,” mentioned Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
Global oil benchmark Brent crude futures fell 1.46 per cent to USD 120.23 per barrel.
Meanwhile, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, was buying and selling 0.30 per cent greater at 104.45.
On the home fairness market entrance, the 30-share Sensex was buying and selling 1,461.54 factors or 2.69 per cent decrease at 52,841.90, whereas the broader NSE Nifty tanked 418.95 factors or 2.59 per cent to fifteen,782.85.
Foreign institutional traders have been web sellers within the capital market on Friday as they offloaded shares value Rs 3,973.95 crore, as per inventory change knowledge.
