Rupee Breaches 78 Per Dollar For The First Time Ever As Dollar Reigns Supreme

The rupee hit a new record low early on Monday and breached the 78 against the dollar for the first time ever, after closing at its weakest level of 77.93 in the previous session.

'More forceful' Federal Reserve tightening expectations after US inflation climbed to four-decade highs has pressured the rupee, which has hit new lows repeatedly since March when it first touched the 77 per dollar mark.

The rupee slipped 36 paise to a record low of 78.29 against the US dollar in early trade on Monday.