Rupee plunges to all-time low, breaches 78/$1 level for first time | Economic Times

Rupee plunges to all-time low, breaches 78/$1 level for first time https://ift.tt/FoceCMl partially convertible rupee weakened past the 78/$1 mark for the first time ever and was last trading at 78.2130/$1. The Indian currency had settled at 77.8325/$1 on Friday. “Rupee to trade in a range of 77.80 to 78.20 as US inflation comes higher at 8.3 per cent making the expectation of a 75 basis point hike in September a reality,” Finrex Treasury Advisors Head of Treasury Anil Kumar Bhansali said.