Mumbai : Continuing its weakening trend, the Rupee on Monday touched a fresh record low against the US dollar tracking losses in domestic as well as global equities market.
The Indian currency plunge to an all-time low of 81.55 to the dollar at the opening rate.
At 9.20am, the rupee was down 0.64 percent from its previous close of 80.99, trading at 81.52 to the dollar. Rupee fell in this period’s eight out of nine trading sessions, losing almost 2.28 percent.
At its most recent monetary policy meeting last week, the Federal Reserve increased its target interest rate by 75 basis points while also indicating that other significant increases are imminent and that it is likely that rates will remain higher for longer.
Markets opens weak
Meanwhile, Indian indices opened on negative note on September 26 with Nifty below 17200 on the back of weak global cues.
At 09:16 IST, the 30-share based BSE Sensex was down 564.77 points or 0.97% at 57534.15, and the broad based Nifty was down 172.30 points or 0.99% at 17155. About 668 shares have advanced, 1622 shares declined, and 153 shares are unchanged.