News > Rupee plunges to new all-time intraday low of 77.7950/Dollar
Rupee plunges to new all-time intraday low of 77.7950/Dollar
The Hindu Business Line | 17/05/2022 03:19 PM | Click to read full article
The rupee plunged to a record intra-day low of 77.7950 per Dollar due to the likelihood of global growth being dragged down on account of a sharp slowdown in China on account of Covid-19 related lockdowns and higher crude oil prices.
The risk-off mode continues to dominate the markets, as the major recession fears were ignited after the Chinese retail data for April showed a contraction of 11 per cent.