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Rupee Falls 30 Paise To Hit The Low Record Of 77.55 Against US Dollars -by Ecork

The Rupipe fell to a low record for the second time this week.

New Delhi:

India on Thursday fell 30 pounds to hit a record low of 77.57 against the US dollar amid a sharp decline in Asian currencies and a sharp decline in domestic equity markets.

The Rupipe fell to a low record for the second time this week.

Foreign currency payments and higher crude oil prices also affect the housing sector, business owners said.

In the interbank foreign exchange, the rupee opened sharply lower at 77.52 against the American dollar, and lost more ground to say 77.55, registering a fall of 30 paise from the last close. In early trades, the home price was moving at 77.50 and 77.57.

Previously, the rupee traded at 77.25 against the dollar.

The dollar index, which measures the greenback’s strength against the basket of six currencies, trades 0.10 per cent higher at 103.95.

On the front of the domestic equity market, BSE Sensex and NSE Nifty were up nearly 2 per cent in initial trading as additional data from the US April, which remained steadily higher in April, investor confidence dented.

Back home, investors are also waiting for additional retail data in April, which is set to release at 5:30 pm today.

Meanwhile, the Reserve Bank of India (RBI) is likely to raise inflation forecasts at a meeting of the Monetary Policy Committee (MPC) next month and will also consider a rate hike to tame inflation higher than its comfort level go, sources say.

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