Rupee hits 174.43 against US dollar

The rupee touched a new all-time low of Rs174.43 against the US dollar in the inter-bank market on Monday in the wake of mounting pressure of import payments as well as looming uncertainty regarding a delay in the International Monetary Fund’s decision regarding resumption of $6 billion Extended Fund Facility (EFF).

The rupee has maintained the downtrend for the past five months. It has lost 14.55 per cent or Rs22.16 to date compared to the 22-month high of Rs152.27 recorded in May.

With a fresh decline of 0.25pc, the rupee has depreciated 10.72pc or Rs16.89 since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.

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