The rupee hit an all-time low of 77.63 against the US dollar on Thursday amid a broader decline in Asian currencies and in domestic equity markets, Reuters reported.
At the day’s closing, the rupee ended 19 paise lower at 77.42 per dollar, in comparison to the previous day’s closing figure of 77.23, according to Moneycontrol.
The rupee on Thursday fell to a record low for the second time this week.
On Monday, the rupee closed at an all-time low of 77.50 against the dollar. Analysts said that the decline was due to a slump in the foreign markets.
From the Sensex pack, UltraTech Cement, Tata Steel, Bajaj Finance, Mahindra and Mahindra, IndusInd Bank, HDFC Bank, Bajaj Finserv and Larsen and Toubro were among the losers. Power Grid was the major gainer.
In the Nifty bracket, HCL Tech, TCS and Asian Paint were the top gainers.
“For Indian markets, inflation and Reserve Bank of India’s unexpected rate increase have created some kind of nervousness,” said Kranthi Bathini, director of equities strategy at WealthMills Securities, Reuters reported.
Meanwhile, Brent crude plunged 1.19% to $106.22 per barrel.
“Asian stocks fell on Thursday after elevated US inflation bolstered the case for aggressive monetary tightening and sparked a slide on Wall Street,” said Deepak Jasani, the head of retail research at HDFC Securities, reported PTI.