Rupee weakens to a new low; traders see currency breaching 79/$ soon

So far in 2022, the rupee has shed around 5.8 per cent against the dollar as higher US interest rates and a surge in global commodity prices have the outlook on the currency

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The domestic currency was last trading 0.2 per cent lower versus the US dollar at 78.95/$1. On Tuesday, the rupee had settled at a record closing low of 78.77 per US dollar.