Rupee Continues to Fall Against US Dollar, Touches Record Low of 72.66
On the other hand, the unemployment rate fell to 3.9 percent in August compared to 3.8 percent in the previous month.
Mumbai, September 10: The Indian rupee has crashed to a new low of 72.66 against US dollar. The currency is one of Asia's worst performers, losing 12 percent this year. Rupee on a Free Fall Against Dollar! Here is How the Indian Currency Stands in Comparison to Its Neighbours.
Asian shares started the week in the red today, faltering for the eighth straight day while the dollar climbed as U.S. President Donald Trump raised the stakes in the heated trade dispute with China. The dollar strength against its rival currencies overseas amid fears of a possible escalation in the US-China trade conflict too put pressure on the rupee.
On the other hand, the unemployment rate fell to 3.9 percent in August compared to 3.8 percent in the previous month. The dollar rose against its major crosses following robust jobs number that strengthened prospects that the Federal Reserve would consider raising twice rate this year.
(The above story first appeared on LatestLY on Sep 10, 2018 12:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).