Rupee hits another all-time low of 77.56/$ amid high crude oil prices

The rupee hit another all-time low on Tuesday as it closed at 77.56 to a dollar, amid high crude oil prices. The rupee opened at 77.70 to a dollar and went on to touch the day’s low at 77.80, which is also a fresh intra-day low, before closing at 77.56 to a dollar, down 0.15 per cent from its previous close of 77.45.

Market participants said the Reserve Bank of India (RBI) intervened in the currency market, which slowed the pace of depreciation. An upswing in the domestic equity markets also helped the currency.

“In early trading hours, it [rupee] was seen