Rupee sinks to lifetime low of 71.10 against USDLast updated on Sep 03, 2018, 09:08 pm
The Indian Rupee nosedived to a new lifetime low of 71.10, shedding 10 paise against the USD in late afternoon trade today, tracking weakening trend in emerging market currencies.
A surge in global oil prices, concerns over US-China trade war and contagion risks from Turkey and Argentina are the factors impacting forex market sentiment.
The Rupee's previous record low was 71 on August 31.
BSE Sensex fell by over 332.55 points today
Brent crude-oil moved up by 0.57%, $78.08/barrel.
Meanwhile, the BSE Sensex fell by over 332.55 points ending at 38,312.52 and the Nifty dipped below the 11,600-level by losing 98.15 points closing at 11,582.35 today on heavy losses in FMCG, power, banking, auto, oil & gas, PSU, IT, infrastructure, and capital goods counters.
On a net basis, FPIs sold shares worth Rs. 212.81cr on Friday.