Rupee crashes to all-time low of 70.08 against US dollar: Well, reports are coming that Rupee falls down again and lost the early gains in the International market, a form of American Dollar. The Indian rupee nosedived to its life-time low of 70.08, tumbling by 79 paise against the US dollar in morning trade. You all can say that domestic equities and global markets rout both are affecting it so far. Also, the increased demand for the US currency from importers and banks amid fresh foreign fund outflows mainly hit the rupee sentiment.
Sources are claiming that this was all-time low after a very big time, as you all may know that the rupee’s previous record low was 69.13, marked on July 20, 2018, and now it lots more 15 paise to end at 68.83 against the resurgent dollar. All the share market and other market are going down too and experts are claiming that this isn’t going to be perfect any sooner.
Also, the reports are coming that the BSE Sensex fell over 288 points and the NSE Nifty dipped below the 11,400-level in opening trade today on heavy losses in PSUs, auto, metal, and banking counters amid a global rout in equity markets. A weak trend in Asia coupled with sell-offs on Wall Street last week and a slump in the Turkish lira dampened the sentiment globally.
Some reports are indicating that the lowest rate of Rupee is going to affect a lot of things and it isn’t going to help at all. The BSE Sensex fell over 288 points and the NSE Nifty dipped below the 11,400-level today and they are the reason why we should be worried about our Rupee in front of the dollar.