Mumbai: The Indian rupee dipped to a new record low of 77.76 against the US dollar on Thursday amid a meltdown in the equities markets as foreign funds outflows continue unabated.
At the interbank foreign exchange market, the Indian rupee closed at 77.72 against the US dollar, 10 paise lower than the previous day’s close.
Earlier, trading in the rupee started at 77.72 against the US dollar and slumped to a record low of 77.76 in the intra-day. It touched a high of 77.63 in the intra-day.
The Indian currency has hit new lows for the fifth time in the last 10 days.
On Wednesday, the rupee weakened by 18 paise to hit a record low of 77.61 against the greenback. The Indian currency hit another low on Thursday.