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Rupee falls further by 30 paise, hits new low

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New Delhi: The Indian rupee fell further by 30 paise on Thursday to its all-time low of 77.63 against the US dollar. The fall comes just ahead of release of the retail inflation data for April in the evening.

The poor performance of the Indian currency is being attributed to the foreign fund outflow, increasing crude oil prices globally and the stronger dollar. It has been persistently decreasing in value over the past several days.

The rupee had settled at 77.25 in the previous session and opened at 77.52.

Inflation has been high in India for past few months. The retail inflation likely surged to an 18-month high in April due to increasing fuel and food prices, as per a Reuters poll.

Sensex fell by over 1,000 points while Nifty was down by 340 points on Thursday.

The domestic stock indices have fallen by more than 6% this month, hit by a surprise increase in the repo rate announced by the Reserve Bank of India recently.

 

 

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