Wednesday, October 3, 2018

Rupee breaches 73-mark against US dollar for the first time; opens at record low of 73.34, down 43 paise from Monday





Mumbai: The Indian rupee Wednesday crashed below the seventy three mark against the dollar for the primary time ever on sturdy demand for the yankee currency from importers amid rising world oil costs and intense capital outflows.

At the Interbank interchange (forex) market, the domestic currency born forty three paise to seventy three.34 against the North American nation dollar within the early trade.




Representational image. News18.




The rupee opened lower at seventy three.26 and weakened any to quote at seventy three.34 a dollar against its previous closing of seventy two.91 Monday.

Foreign institutional investors (FIIs) sold  shares internet value a internet of Rs one,842 large integer Mon, tentative knowledge showed.

Investors remained involved over sustained foreign capital outflows and soaring fossil fuel costs that crossed the $85 per barrel.

The rupee Mon tumbled forty three paise to finish at a two-week low of seventy two.91 against the North American nation dollar on steady capital outflows.


Forex dealers aforementioned besides sturdy demand for the yankee currency from importers, considerations of fears of rising commercial enterprise deficit and capital outflows chiefly weighed on the domestic currency.


Forex market remained closed Tuesday on account of Gandhi Jayanti.

Meanwhile, the mad cow disease benchmark Sensex born by 137.62 points, or 0.38 per cent, to 36,388.52 in gap trade Wednesday.

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