Indian Rupee Hits Record Low Against U.S. Dollar
June 29 2022 - 2:07AM
RTTF2
The Indian rupee drifted lower against the U.S. dollar in
evening deals on Wednesday, as renewed concerns about inflation and
the risk of recession dragged down regional stocks.
Rising oil prices also weighed on sentiment. Oil prices were
modestly higher in European trade after having risen for three
straight sessions amid signs of tight supply.
The benchmark S&P BSE Sensex dropped 150.48 points, or 0.28
percent, to 53,026.97 as a weaker-than-expected U.S. consumer
confidence reading fuelled worries over a recession and dented
investors' appetite for riskier assets globally.
The broader NSE Nifty index ended down 51.10 points, or 0.32
percent, at 15,799.10.
The Indian rupee touched a record low of 79.05 against the
greenback from Tuesday's close of 78.97.
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