Rupee hits record low against US dollar (Lead)
Tuesday - August 14, 2018 11:26 am ,
Category : BUSINESS
Rupee hits record low against US dollar (Lead)
Mumbai Aug 14 (IANS) Fears over a rise in global protectionist measures along with a strong US economy dragged the Indian rupee to a fresh intra-day low of over 70 against a US dollar during the pre-afternoon hours on Tuesday.
Around 11.00 a.m. the rupee plunged to 70.08 to a US dollar. However soon afterward the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee s free fall.
The intervention aided the rupee stabilise just a tad below 70 to a USD at 69.98 around 11.05 a.m.
--IANS rv/in/vm
Around 11.00 a.m. the rupee plunged to 70.08 to a US dollar. However soon afterward the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee s free fall.
The intervention aided the rupee stabilise just a tad below 70 to a USD at 69.98 around 11.05 a.m.
--IANS rv/in/vm
