Indian Rupee Slips to New Record Low of 77.59 Against US Dollar
The Indian rupee slumped to a new record low of 77.59 against the US dollar on Thursday, tracking losses in other Asian currencies. At the interbank foreign exchange market, the Indian currency opened at 77.56 against a dollar and slipped to a low of 77.59 in the morning trade against its previous day's close of 77.23.
Mumbai, May 12: The Indian rupee slumped to a new record low of 77.59 against the US dollar on Thursday, tracking losses in other Asian currencies. At the interbank foreign exchange market, the Indian currency opened at 77.56 against a dollar and slipped to a low of 77.59 in the morning trade against its previous day's close of 77.23.
The Indian currency has slumped tracking losses in other Asian peers.
Foreign institutional investors have pulled money out of the Indian equities markets in recent weeks. This has led to the weakness in the Indian currency and a sharp drop in the equities markets. Indian Rupee Slumps 30 Paise to 77.55 Against US Dollar in Early Trade.
Indian stock markets' key indices, Sensex and Nifty, slumped by more than two per cent on Thursday. The key indices were trading in the red for the fifth straight session.
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)