Rupee breaches 77/$, hits historic low of 77.53 as inflation worries rise

The rupee breached the 77-level for the first time on Monday to hit an all-time low of 77.53 against the US dollar, raising concerns that a new front has opened up for the economy in the battle against inflation. If the rupee continues to weaken, it will add to inflation as imports become costlier, and it will also make overseas education and international travel more expensive.



May 10, 2022 at 04:56AM