Rupee Down 22 Paise; Rs 79.48 Against US Dollar

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The rupee depreciated by 22 paise to slump to a new record low of 79.48 (provisional) against the US dollar on Monday, tracking a strong greenback overseas and subdued domestic equities.

However, declining crude oil prices on the international market restricted the rupee’s loss, according to forex traders.

At the interbank foreign exchange market, the local unit opened weak versus the US dollar at 79.30, with a day’s high of 79.24 and low of 79.49.

It finally settled at 79.48 (provisional), down 22 paise over its previous close of 79.26.

The previous record low for the rupee versus the US dollar was 79.38, which was set last week.

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