Rupee sinks to record low of 72.91 against USD
The rupee today collapsed to a lifetime low of 72.91 against the USD at the interbank foreign exchange market. The rupee was quoting 22p lower at a fresh record low of 72.91 in morning trade amid surging crude oil prices and unabated foreign fund outflows. Brent crude gained 0.35% to quote at $79.34 a barrel. It surged over 2% in yesterday's trade. Here's more.
While rupee continues to fall, Sensex was up by 0.35%
Escalating trade war concerns, consistent dollar demand from banks and importers, following higher crude oil prices, kept the rupee under pressure, forex dealers said. Yesterday, after scaling a historic low of 72.74, the rupee, finally settled day at 72.69, showing a loss of 24p, or 0.33%. Meanwhile, the benchmark Sensex was up by 133.29 points, or 0.35%, to 37,546.42 in the opening deals.