Rupee hits fresh all-time low of 94.54 against US dollar on Friday
The Indian rupee hit its fresh all-time low of 94.54 against the US dollar on Friday, weighed down by uncertainties surrounding the US-Iran negotiations after Iran’s military strongly rejected US President Donald Trump’s claims of ceasefire talks. Moreover, sell-off in the domestic equities and persistent foreign institutional investor outflows have also adding more pressure on the domestic currency. Foreign institutional investors sold equities worth Rs 1,805.37 crore on a net basis on Wednesday, exchange data showed. Stock, forex, commodity, and bullion markets remained closed on Thursday for Ram Navami.
The partially convertible currency is currently trading at 94.52, weaker by 56 paise from its previous close of 93.96 on Wednesday. The currency touched a high and low of 94.54 and 94.1875 respectively.
