The rupee opened weak at 77.67 against the American dollar at the interbank foreign exchange and then lost further ground to 77.73, registering a fall of 14 paise from the last close.
New Delhi: Slipping to a new low against dollar, the rupee hit Rs 77.79 on Tuesday amid persistent foreign fund outflows and elevated global crude oil prices.
The rupee opened weak at 77.67 against the American dollar at the interbank foreign exchange and then lost further ground to 77.73, registering a fall of 14 paise from the last close.
The partially convertible rupee was trading at 77.73/74 to the dollar by 0358 GMT against Friday’s close of 77.45. The one-month non-deliverable forward was trading at 77.96/97 to the dollar.
Meanwhile, share markets in India were trading slightly higher with eyes on the listing of state-run Life Insurance Corporation (LIC) , the country’s biggest IPO, set for later in the session.
Traders will also watch for central bank intervention if the currency racks up sharper losses during the session.
(With agency inputs)