The rupee logged a weekly loss of 1.8% The rupee registered a new all-time closing low of 73.76 against the dollar on Friday, gaining some ground after breaching the 74 mark for the first time ever during the session.
The fourth consecutive lower closing for the rupee came on a day the Reserve Bank of India changed its policy stance to 'calibrated tightening" from 'neutral' - meaning a rate cut is off the table for now - while maintaining a status quo on repo rate.
Repo rate is the key interest rate at which the RBI lends short-term funds to commercial banks.