Rupee Off Record Lows, But Still Within Striking Distance Of 79 Per Dollar

Rupee Today: The rupee recovered a touch on Thursday, halting a six-day record weak closes streak.

The rupee recovered a touch on Thursday, halting a six-day record weak closes streak, but remained within striking distance of the psychologically significant 79-to-a-dollar rate, which the currency breached in the previous session. 

Bloomberg showed the rupee at 78.9738 on Thursday, while Reuters had the Indian currency last changing hands at 78.915 per dollar. PTI said the rupee gained 5 paise to close at 78.98, provisionally, against the greenback.

At the interbank forex market, the rupee opened strong at 78.92 against the dollar and witnessed a high of 78.90 and a low of 78.99, according to PTI. The currency finally settled at 78.98, a rise of 5 paise over its previous close.

As concerns about higher prices and surging inflation came back to the forefront in the previous session, the rupee breached the 79 per dollar rate for the first time on record. That marked the sixth straight session of all-time weak closing.