Rupee hits new record closing of 74.39 against dollar

MUMBAI: The rupee on Tuesday endured its fall and plunged to a new report final of 74.39 in opposition to the USA foreign money. The Indian foreign money finished at new low amid rising crude oil price, which crossed the $84-mark these days, and powerful buck demand.

On Monday, the rupee had for the first time breached the 74-mark to close at 74.06.

At the forex marketplace, the home unit these days opened higher at 73.93 and complicated to 73.88 on fresh selling through exporters amid weakness in buck in opposition to some currencies in a foreign country.

However, the foreign money erased all its morning gains in afternoon business. Moreover, unabated overseas fund outflows weighed on the rupee, buyers stated.


Investors remained involved over sustained overseas capital outflows and upward thrust in crude oil price.


Forex sellers stated but even so robust demand for the American foreign money from importers, considerations rising fiscal deficit and capital outflows weighed on the home foreign money.


Meanwhile, the BSE benchmark Sensex dropped through 175 issues, or zero.51 per cent, to close at 34,299 and the broader NSE Nifty additionally finished in crimson at 10,301.


(With PTI inputs)
Rupee hits new record closing of 74.39 against dollar Rupee hits new record closing of 74.39 against dollar Reviewed by kailash soni on October 10, 2018 Rating: 5
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