Rupee slides 17 paise to hit all-time low of 76.44 against US dollar

Rupee slides 17 paise to hit all-time low of 76.44 against US dollar

The Indian rupee pared early gains and settled for the day 17 paise lower at an all-time low of 76.44 (provisional) against the US dollar on Wednesday, tracking weak domestic equities and strengthening of the American currency overseas.

Forex traders said firm US dollar index weighed on the local unit. Besides, investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.

At the interbank foreign exchange, the rupee opened strong at 76.07, but soon lost ground and finally settled at 76.44, registering a fall of 17 paise over its previous close.

During the session, the rupee witnessed high volatility and touched a high of 75.99 and a low of 76.48 against the US dollar.