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Rupee breaches 78 per dollar mark for the first time on global cues

The rupee started depreciating rapidly since Russia invaded Ukraine in late February

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BS Reporter Mumbai
The rupee breached the 78 mark against the dollar for the first time tracking the global risk-off mood and the strength of the US dollar. The currency opened at 78.14 per dollar compared to the previous close of 77.84 per dollar -- which was also an all-time low for the currency. The Indian currency touched a low of 78.23 during the morning trade.

“Weaker fundamentals are weighing on the Indian rupee with Brent crude hovering near $120/bl, raising the concerns of the widening trade deficit while the rising US interest rates are leading to concerns of further capital outflows and