Indian rupee hits life low for fourth straight day on broad dollar rally

An attendant at a fuel station arranges Indian rupee notes in Kolkata An attendant at a fuel station arranges Indian rupee notes in Kolkata, India, August 16, 2018. REUTERS/Rupak De Chowdhuri MUMBAI, July 14 (Reuters) - The Indian rupee weakened in opening trade on Thursday to hit record lows against the greenback for a fourth straight session after data showed U.S. inflation, already at four-decade highs, accelerated even further. The dollar resumed its relentless rise, driven by both expectations for faster policy tightening by the Federal Reserve and safe-haven flows as fears grow for a recession. read more The partially convertible rupee was trading at 79.75/76 per dollar by 0338 GMT, compared to its close of 79.63 on Wednesday. The unit touched a life low of 79.77.