IPA Newspack
  • Home
  • now
  • politics
  • business
  • markets

IPA /

Business

Business

Rupee slumps to all-time low of 77.42 against dollar

The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.

On Friday, the rupee had slumped 55 paise to close at 76.90 against the US dollar. The Indian rupee opened weaker on Monday against the dollar as weakness in global equities on concerns over economic outlook and rising bond yields weighed on sentiments, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Forex traders said, risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by the global central banks. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.35 per cent higher at 104.02, tracking rising US yields and fears about higher interest rates. Moreover, Asian and emerging market peers started weak this Monday morning and will weigh on sentiments.

On the domestic equity market front, the 30-share Sensex was trading 737 points or 1.34 per cent lower at 54,098.58 points, while the broader NSE Nifty declined 220.25 points or 1.34 per cent to 16,191.00 points. Global oil benchmark Brent crude futures rose 0.14 per cent to USD 112.55 per barrel.

Foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth Rs 5,517.08 crore, as per stock exchange data.

With inputs from News18

Politics

Agra mayor wants Aurangzeb plaques removed

May 19, 2022
Business

Another hike takes LPG price beyond Rs1,000

May 19, 2022
Politics

BJP to woo Jats, Vaishyas in Haryana for 2024

May 19, 2022
Politics

AAP’s Uttarakhand CM face quits

May 19, 2022
Happening Now

Freed Rajiv Gandhi killer, mother meet MK Stalin

May 19, 2022
IPA Special

In The Wake Of War In Ukraine, Wheat Is Now A Strategic Commodity

May 18, 2022
IPA Special

The Economist Of London Goes Gaga With Indian Growth Story

May 18, 2022
IPA Special

Turkey’s Erdogan Plays Games Within And With NATO

May 18, 2022
IPA Special

Arrest Of A Big Bangladeshi Financial Scamstar In Bengal Creates A Row

May 18, 2022
IPA Special

Chandrutt Mishra, World’s Foremost Leopard Expert Is A Change Maker

May 18, 2022
IPA Special

Can Hindu Marriage Act Allow Same Sex Marriage In India?

May 18, 2022
Politics

Hardik Patel finally quits Cong, may be headed for BJP

May 18, 2022
Happening Now

Protesting Punjab farmers serve ultimatum to Mann govt

May 18, 2022
Politics

CBI arrests close associate of Chidambaram’s son

May 18, 2022
Happening Now

China jet crash sabotage, suggests Black Box data

May 18, 2022
Business

Export curbs relaxed for outbound wheat consignments

May 18, 2022
IPA Special

Rahul Gandhi Has Damaged The Cause Of Opposition Unity With Udaipur Statement

May 17, 2022
IPA Special

Centre On Backfoot After Unsuccessful Privatisation

May 17, 2022
IPA Special

Central BJP Leaders Are Depending On Yogi Adityanath For Next Lok Sabha Win

May 17, 2022
IPA Special

Regional Parties Are Jittery At Rahul Gandhi’s Dig To Them On Ideology

May 17, 2022

An appeal

The legacy of IPA, founded by Nikhil Chakravartty, the doyen of journalism in India, to keep the flag of independent media flying high, is facing the threat of extinction due to the effect of the Covid pandemic. Only an emergency funding can avert such an eventuality. We appeal to all those who believe in the freedom of expression to contribute to this noble cause.
Click here to learn more

Share

Reply

  • 0
More on IPA

Another hike takes LPG price beyond Rs1,000

May 19, 2022 11:12 am | IPA Staff

The price of 14.2-kg domestic liquefied petroleum gas or LPG cylinder has crossed Rs 1,000 in most of the places in India from Thursday. The...

Business

Export curbs relaxed for outbound wheat consignments

May 18, 2022 4:17 am | IPA Staff

The government on Tuesday announced a relaxation on its orders restricting wheat exports. It has been decided that wherever wheat consignments have been handed over to...

Business

Wheat export banned with immediate effect

May 14, 2022 9:54 am | IPA Staff

  India has put a ban on the export of wheat with immediate effect, the ministry of commerce said in a notification in a late...

Business

Rupee slumps to all-time low of 77.42 against dollar

May 10, 2022 10:20 am | IPA Staff

The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the...

Business

Another hike takes LPG price beyond Rs1,000

in Business
May 19, 2022   ·  

Export curbs relaxed for outbound wheat consignments

in Business
May 18, 2022   ·  

Wheat export banned with immediate effect

in Business
May 14, 2022   ·  

Leave a Reply Cancel reply

You must be logged in to post a comment.

Follow us on
Up Next: RPG-like attack on Punjab Police’s Intel HQ in Mohali
©2020 -2021 India Press Agency, All Rights Reserved
Newspack by India Press Agency
Posting....
logo
  • Home
  • now
  • politics
  • business
  • markets