Rupee gains 5 paise to close at 78.98 against US dollar

The rupee had breached the psychologically significant level of 79 per dollar level for the first time ever on Wednesday and has also hit a series of lifetime lows this month."The near-term outlook remains bearish for the rupee amid foreign fund outflows and risk-averse moods. Spot USD-INR is having support at 78.38 and resistance at 79.10.

Rupee gains 5 paise to close at 78.98 against US dollar
The rupee had breached the psychologically significant level of 79 per dollar level for the first time ever on Wednesday and has also hit a series of lifetime lows this month."The near-term outlook remains bearish for the rupee amid foreign fund outflows and risk-averse moods. Spot USD-INR is having support at 78.38 and resistance at 79.10.