Rahul Gandhi takes a dig at tumbling currency, says Rupee not breaking, is broken
Shashi Tharoor also attacked the government over the falling rupee saying that the Indian currency is the worst performing currency in Asia.
Shashi Tharoor also attacked the government over the falling rupee saying that the Indian currency is the worst performing currency in Asia.
Besides strong demand for the American currency from importers, concerns of fears of rising fiscal deficit and capital outflows mainly weighed on the domestic currency.
The domestic currency dropped 22 paise taking it to a new record low in morning trade amid surging crude oil prices and unabated foreign fund outflows.
Finance Minister Arun Jaitley Wednesday attributed the fall in rupee to global factors and stressed that the domestic unit was better off as compared to other currencies.
The Sensex of the BSE after opening at 38,192.95 points touched a high of 38,234.77 points and a low of 38,174.73 points.
At the Forex market, the local currency opened lower at 70.95 a dollar and slipped further to hit its lifetime low of 71 from its previous close of 70.74.
Around 11 am, the rupee plunged to 70.08 to a US dollar. However, soon afterward the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee's free fall.
The rupee firmed up 5 paise to 63.75 against the US dollar in early trade on Tuesday, fresh selling of…
The ongoing quarterly results season, along with macro-economic industrial production and exim data points are expected to steer the key…
