Rupee ends at new low as global risk fears spur rush to safe-haven dollar

The rupee has already lost 0.5% to the greenback this week, taking the depreciation for 2022 so far to 6.7%

The rupee closed at a fresh low against the dollar for the third straight day due to a rebound in crude prices and as a global wave of risk aversion led to capital flowing out of emerging markets to the safety of the greenback.

The domestic currency settled at 79.64 to the dollar on Wednesday as against 79.60 at the previous close. In the course of trade, the rupee touched a lifetime intra-day low of 79.68 to the greenback.

The rupee has already lost 0.5 per cent to the dollar this week, taking the depreciation for 2022 so far to