Rupee falls 9 paise to hit lifetime low of 79.90 against US dollar

Last Update: 14 July 2022 at 7:17 pm IST

The rupee cut its early gains as the US dollar continued to gain against a basket of major global currencies in early European trade.

Forex dealers said a fall in crude oil prices in international markets, however, limited the losses in the rupee.

The rupee on Thursday fell by 9 paise to close at a new record low of 79.90 against the US currency on strong US dollar and capital outflows in overseas markets. Forex dealers said a fall in crude oil prices in the international markets, however, limited the losses in the rupee.

In the interbank forex market, the local currency strengthened at 79.72 and was seen trading with a high of 79.71 and a low of 79.92 against the US Dollar in the day’s trade. The local unit finally closed at $79.90 per dollar, which is 9 paise lower than the previous close.

The rupee cut its early gains as the US dollar continued to gain against a basket of major global currencies in early European trade. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.37 per cent higher at 108.36. Global oil benchmark Brent crude futures fell 2.20 per cent to $97.38 per barrel.

On the domestic equity market front, the BSE Sensex closed 98 points or 0.18 per cent lower at 53,416.15, while the broader NSE nifty It fell 28.00 points or 0.18 per cent to 15,938.65. Foreign institutional investors were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 2,839.52 crore, according to exchange data.

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