MUMBAI : Indian rupee touched an all-time low of 76.92 against the US dollar but recovered soon and strengthened by late-afternoon on Wednesday amid a recovery in the domestic stock market and the expectation of a large FDI coming in from the Reliance Jio-Facebook deal.
Rupee closed at 76.67, up 0.22%, from its previous close. It recorded its previous all-time low on April 16, when it slumped to 76.87 against US dollar.
Over the past week, the US dollar has been strengthening against a basket of currencies as investors fled to safe haven greenback amid weakening risk appetite, which was exerting pressures on the rupee.