: Rupee touches fresh record low against US dollar, closes at 78.04 #IndiaNEWS #Business New Delhi, June 13 | The Indian currency rupee breached the Rs 78 mark against the dollar for the first time

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Rupee touches fresh record low against US dollar, closes at 78.04 #IndiaNEWS #Business
New Delhi, June 13 | The Indian currency rupee breached the Rs 78 mark against the dollar for the first time ever on Monday, hitting a new lifetime low against the US dollar.
The rupee closed Mondays trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal.
There is no fresh trigger to predict if the rupee will be 79 or 80 unless and until there is a conflict between US and China with regards to Taiwan, other than that there shouldnt be any correction towards 77 or 77.50 in the spot, said Emkay Global Financial Services in a note.
The rupee might see more weakness ahead of the US monetary policy review meeting starting later this week, where the US Fed is expected to hike rates and showcase a more aggressive action, said Jigar Trivedi, Research Analyst, Commodities Currencies Fundamental, Anand Rathi Shares Stock Brokers.
However, runaway depreciation might not happen amid the central banks intervention, Trivedi said.
Source: IANS

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