Rupee rebounds from record low, spurts 10 paise to 77.68 vs USD

June 08, 2022 19:52

Recovering from its lifetime low, the rupee advanced 10 paise to settle at 77.68 against the US dollar on Wednesday after the RBI raised the interest rate by 50 basis points to tame inflation.

However, elevated oil prices and persistent foreign capital outflows capped the gains, forex dealers said.

At the interbank forex market, the local unit opened strong at 77.70 against the greenback and witnessed an intra-day high of 77.64 and a low of 77.79.

It finally settled at 77.68, up 10 paise over its previous close.

The rupee had slumped to its lifetime low of 77.78 on Tuesday. -- PTI

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