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Forex Market: Indian rupee touches all-time low against US dollar

Mumbai: The Indian rupee touched an all-time low against the US dollar in the forex market. The sustained foreign fund outflows, fear of a global recession, strengthening of US dollar and rising crude oil prices weighed upon the local currency.

At the Interbank foreign exchange, the domestic currency opened on a weak at 78.53 against the American dollar. During trading, it then  reached  at 78.59 — its all-time low level, registering a fall of 22 paise from the last close. On Monday, the Indian rupee declined by 4 paise to close at its life-time low of 78.37 against the US dollar.

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Meanwhile, the dollar index, which measures the US dollar’s strength against a basket of six currencies, was trading 0.01% lower at 103.92.  Foreign investors pulled out close to Rs 46,000 crore so far this month. The net outflow by foreign portfolio investors (FPIs) from equities reached Rs 2.13 lakh crore until now in 2022.


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