Record Fall In Rupee, Rupee Slips Below 78 For The First Time Against Dollar

On Monday, there was a big weakness in the Indian currency against the US dollar. 

The rupee touched its all-time low on Monday. This is the first time that the rupee has slipped below 78. 

The rupee fell by 43 paise on Monday on a weak trend in the domestic stock market, continuous outflow of foreign funds and continued strengthening of the US dollar. 

Due to heavy selling by foreign investors and inflation data in the US, there has been such a big fall in the rupee against the dollar.

Earlier in the foreign exchange market on Friday, the rupee fell by 19 paise to close at 77.93 against the US currency. 

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This fall has been attributed to the rise in crude oil prices and continuous outflow of capital from the market by foreign institutional investors. 

Traders said heavy selling in the equity market and strengthening of the dollar overseas also weighed on the rupee.

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