Rupee falls to yet another record low close of 79.63The rupee’s collapse marched slightly ahead, marking the third straight session of record weak closes, as investors waited with bated breath for the key US inflation data, which is predicted to show price pressures surged to a 40-year peak and further boost a rampant dollar.Bloomberg showed the rupee was last changing hands at 79.6350 per dollar after falling to an intra-day low of 79.6825, edging ever closer to the 80 mark.PTI reported the rupee fell 3 paise to close provisionally at 79.62 against the US dollar.While the currency breathed a sigh of relief earlier in the session on crude prices crashing below the $100-per-barrel mark, the reversal in energy prices back above that level on demand worries from a global recession pushed the rupee lower.The rupee had tracked a generally upbeat mood in Asia trading hours this morning and domestic stocks opened on a positive tone, but the risks narrative to global financial markets remained ahead of the highly anticipated June US inflation report, which likely accelerated to a 40-year peak.Global stocks, including Indian equity benchmarks, slipped on Wednesday and the euro lurked just above parity against the dollar, as traders waited to see if US inflation data later bolsters the case for another supersized Federal Reserve rate hike this month.In the previous session, the rupee had collapsed to close at 79.59 against the greenback as the safe-haven stampede into dollar-denominated assets brushed aside almost every other currency, including the euro, which was on the brink of parity with the US currency for the first time since 2002.
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