Currency Buzz: INR Plummets To Record Lows

9 May 2022 , 04:37 PM

The Indian rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback, and finally settled for the day at 77.50, down 60 paise over its previous close. During the trading session, the rupee touched its lifetime low of 77.52. On Friday, the rupee had slumped 55 paise to close at 76.90. Powered by Commodity Insights