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Rupee weakens beyond 79 per $ to hit record low, seen falling more

Times of India LogoTimes of India1 mo ago

Rupee weakens beyond 79 per $ to hit record low, seen falling more

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The rupee weakened past 79 per dollar, plumbing record lows in early trade, as investors retreated from Indian share markets on Friday with the greenback staying strong against major peers due to prospects for higher US interest rates and fears of a widespread recession.

The unit had ended at 78.9675 on Thursday.

By 0352 GMT, the partially convertible rupee was trading at 79.08/09 per dollar, after touching a record low of 79.10.


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Article Details

Author / Journalist: Reuters

Category: Economy

Topics: Rupee against dollar Rupee low Business news Rupee decline Rupee weakened Share markets Rupee

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 12:23:48

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Reading Time: 1 minutes read

Article Length: 161 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 24398

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About Times of India

Times of India Logo

Main Topics: Economy

Official Website: timesofindia.indiatimes.com

Update Frequency: 23 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 3h ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #28

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