Indian rupee touches all-time low of 21.05 against UAE dirham

Indian rupee touches all-time low of 21.05 against UAE dirham

Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.. The Indian rupee touched an all-time low against the dirham of Dh21.05 as the currency remained under massive pressure amid a significant rise in coronavirus cases in the country and weak domestic equities.. Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.�The currency settled 53 paise lower at 76.13 (provisional) against the US dollar on Friday.. On a weekly basis, the currency has depreciated by 124 paise. ". Rupee remained under pressure following broad strength in the dollar and as FIIs continue to remain net sellers in the equity and debt segment," said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.. The Indian rupee appreciated by 26 paise to 75.87 against the US dollar in early trade on Tuesday tracking positive opening in domestic equities.. Forex traders said higher opening in domestic equities supported the local unit, while sustained foreign fund outflows and concerns over coronavirus outbreak weighed on the local unit.. At the interbank foreign exchange the rupee opened at 75.92, then gained ground