Rupee falls 60 paise to an all-time low of 77.50 per dollar

The Indian rupee continued to fall, falling 60 paise to a record low of 77.50 against the US dollar on Monday, weighed down by the dollar's strength overseas and continuing foreign fund outflows.Risk appetite has diminished, according to forex traders, as inflation fears grow, perhaps prompting more aggressive rate hikes by global central banks.

The rupee opened lower versus the greenback on the interbank foreign exchange market, at 77.17, and ended the day at 77.50, down 60 paise from its previous finish. The rupee hit a lifetime low of 77.52 during the trading session. The rupee fell 55 paise to settle at 76.90 last weekend.

The rupee has lost 115 paise against the dollar in the last two trading days. Brent crude futures declined 1.68 percent to USD 110.50 a barrel, the global benchmark. 

At the Indian equity market front, the 30-share BSE Sensex sank 364.91 points, or 0.67 percent, to 54,470.67, while the NSE Nifty dropped 109.40 points, or 0.67 percent, to 16,301.85. According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 5,517.08 crore.

Market Closing: Sensex Falls 365pts, Nifty Barely Holds 16,300

HDFC raises home loan interest rates by 0.30 pc

PNB raises term deposit interest rates by 60 basis points

Karur Vysya Bank, Bank of Maharashtra raise lending rates

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