Master Stroke: Know who is responsible of Rupee sliding to 69 against Dollar

02 Jul 2018 10:51 PM

Master Stroke: Know who is responsible of Rupee sliding to 69 against Dollar

Updated 02 Jul 2018 10:51 PM

Master Stroke: Know who is responsible of Rupee sliding to 69 against Dollar 

The Indian Rupee (INR) collapsed to a lifetime low of 69.10 against the US dollar on Thursday, after it closed at 68.61 on Wednesday. The currency plunged by 49 paise in early trade today as rising crude oil prices deepened concerns about the country's current account deficit and inflation dynamics. Therefore, after maintaining a 19-month low, the Rupee further depreciated owing to the increase in the international crude oil prices and trade war concern between the United States and China.

As per the report, the rupee opened at 68.87 a dollar at the interbank foreign exchange market, against 68.61 previously and sank to 69.10 in morning deals, falling 49 paise. 

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