Rupee Falls To New Low, Near 79 Vs US Dollar


New Delhi: The rupee depreciated 18 paise to close at a record low of 79.03 (provisional) against the US dollar on Wednesday, weighed down by persistent foreign capital outflows, a strong dollar overseas and surge in crude oil prices.

At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled at 79.03, down 18 paise over its previous close.

During the session, the rupee touched an all-time low of 79.05 against the American currency.

Tightening by central banks and elevated inflation are triggering worries of a global growth slowdown, while favouring the safe-haven dollar index.

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