Rupee near to get in platinum jubilee mark to dollar, reaches all time low
Thursday - October 11, 2018 11:12 am ,
Category : INDIA
Stock Market also crashes in festive days
Indian rupee slipped to a fresh record low of 74.46 to a US dollar during the morning trade session on Thursday.
It opened at 74.31 to a dollar at the Inter-Bank Foreign Exchange Market and soon slipped to 74.46 to a greenback -- the lowest-ever it has touched.It made a slight recovery and around 9.30 a.m. and stood at 74.43 (74.4263) to a US dollar.
On the other hand, the weakening of the US dollar against major currencies overseas, the decline in six trading sessions ended the day and it closed 18 paise to close at Rs 74.21 per dollar.
Major decline in Share Market
A huge decline in the stock market has seen onThursday. Sensex slipped 1,000 points and Nifty 300 points. 45 of the 50 companies involved in the Nifty were found to be in losses. Out of the 31 stocks in the Sensex, 30 declined.
Shares of Tata Steel and SBI dropped 5%. Vedanta, IndusInd Bank and Infosys dropped nearly 4%. The mid-caps index fell 3.3%. Reality, IT, metal and banking index declined by 4%.The fall of the American stock market has affected Asian markets. On Wednesday, the American Dow Jones closed with a fall of 832 points.
According to traders, due to rising interest rates in the US, the markets are under pressure. There is also concern among investors from the US-China trade war. The reduction of the global growth of the International Monetary Fund (IMF) also results in centimeter growth.
