News > Rupee Breaches 78 Per Dollar For The First Time Ever

Rupee Breaches 78 Per Dollar For The First Time Ever

The rupee hit a new record low early on Monday and breached the 78 against the dollar for the first time ever, after closing at its weakest level of 77.93 in the previous session.

'More forceful' Federal Reserve tightening expectations after US inflation climbed to four-decade highs has pressured the rupee, which has hit new lows repeatedly since March when it first touched the 77 per dollar mark.