Rupee hits fresh record low of 70.81 (Third Lead)
Thursday - August 30, 2018 10:22 am ,
Category : BUSINESS
Rupee hits fresh record low of 70.81 (Third Lead)
Mumbai Aug 30 (IANS) The Indian rupee plunged to a fresh record low of 70.81 to a US dollar during the morning trade session on Thursday.
Around 10.00 a.m. the Indian rupee was pegged at 70.68 after it touched 70.81 to a US dollar -- the lowest ever mark -- against the greenback.
It opened the day s trade at the Interbank foreign exchange market at 70.58 to a US dollar and soon surpassed its record low of 70.65 to a greenback on Wednesday.
According to analysts continuous outflow of foreign funds along with caution ahead of key macro-economic data coupled with volatile global crude oil prices pulled the Indian rupee to a fresh low.
"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower " Anand Rathi Shares and Stock Brokers research analyst Rushabh Maru told IANS.
--IANS rv/in
Around 10.00 a.m. the Indian rupee was pegged at 70.68 after it touched 70.81 to a US dollar -- the lowest ever mark -- against the greenback.
It opened the day s trade at the Interbank foreign exchange market at 70.58 to a US dollar and soon surpassed its record low of 70.65 to a greenback on Wednesday.
According to analysts continuous outflow of foreign funds along with caution ahead of key macro-economic data coupled with volatile global crude oil prices pulled the Indian rupee to a fresh low.
"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower " Anand Rathi Shares and Stock Brokers research analyst Rushabh Maru told IANS.
--IANS rv/in
