Rupee Hits All-Time Low, Trading Beyond 77.20 Per Dollar

The rupee hit all-time lows early on Monday, trading beyond 77.20 per dollar driven by investors' preference toward safety.

The rupee hit all-time lows early on Monday, trading beyond 77.20 per dollar driven by investors' preference toward safety as lockdowns in China, war on the edge of Europe and fear about higher interest rates sent a nervous jolt through markets.

While on Friday, the Indian currency ended close to its all time lows of 77.05 hit in March, it weakened sharply today and was last trading beyond 77.20 per dollar, according to the latest quote on Bloomberg.