Rupee plunges to all-time low of 77.84/$ amid rising crude oil prices

The rupee hit a fresh all-time low on Friday amid dollar gaining strength and elevated global crude oil prices.

The currency closed at a record low of 77.84 against the dollar after hitting 77.88 in intraday trading. On Thursday, the rupee closed at 77.77 per dollar, making it a third consecutive trading day when the Indian currency hit all-time closing low.

Currency dealers said the central bank continued its intervention in the foreign exchange market, which slowed the pace of the fall of the rupee.

“Rupee hit its fresh all-time low but has, in the past few sessions, been very