Rupee ends at new low on relentless FII sell-off, slower RBI intervention

The analyst said the rupee may weaken to 79.10 per dollar in the coming days

The rupee settled just shy of the 79-mark against the US dollar on Wednesday as a fall in domestic equities amid unceasing overseas investment outflows soured sentiment towards the domestic currency, dealers said.

The Indian currency settled at a fresh low of 78.97 versus the greenback, 0.3 per cent weaker than the previous close. In the course of trade, it hit a lifetime intraday low of 78.98 per US dollar. On Tuesday, the local currency had closed at 78.77.

Dealers said though the Reserve Bank of India intervened on Wednesday to limit volatility in the currency market, the magnitude of