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Rupee touches fresh record low against US dollar, closes at 78.04
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IANS | 13 Jun, 2022
The
Indian currency rupee breached the Rs 78 mark against the dollar for
the first time ever on Monday, hitting a new lifetime low against the US
dollar.
The rupee closed Monday's trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal.
"There
is no fresh trigger to predict if the rupee will be 79 or 80 unless and
until there is a conflict between US and China with regards to Taiwan,
other than that there shouldn't be any correction towards 77 or 77.50 in
the spot," said Emkay Global Financial Services in a note.
The
rupee might see more weakness ahead of the US monetary policy review
meeting starting later this week, where the US Fed is expected to hike
rates and showcase a more aggressive action, said Jigar Trivedi,
Research Analyst, Commodities & Currencies Fundamental, Anand Rathi
Shares & Stock Brokers.
However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 04 Jul, 2022 |
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