Rupee Breaches 73-Mark Against US Dollar, Slips to Fresh All-Time Low
On Monday, rupee had slipped 43 paise to end at a near two-week low of 72.91 against the US dollar.
Mumbai, October 3: The rupee has opened today at a new low, breaching the 73-mark for the first time ever. The currency opened 34 paise down at 73.25 against the dollar on account of rising global oil prices and unabated capital outflows. Rupee on a Free Fall Against Dollar! Here is How the Indian Currency Stands in Comparison to Its Neighbours.
According to an ET report, oil prices were firm on the expectation of a tighter market once the US sanctions start targeting Iran's petroleum industry from next month. Talking about the domestic market, all eyes will be on the RBI policy statement that is expected to come this week. Investors remained concerned over sustained foreign capital outflows and rising crude oil prices that crossed the USD 85 per barrel.
On Monday, rupee had slipped 43 paise to end at a near two-week low of 72.91 against the US dollar. On Tuesday, the Indian markets were closed due to Gandhi Jayanti.
(The above story first appeared on LatestLY on Oct 03, 2018 09:31 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).