• Friday, March 29, 2024

Business

Indian rupee falls to record low at 70.09 against US dollar

By: Radhakrishna N S

Indian Rupee (INR) tumbled to its historic low of Rs 70.09 against US dollar (USD) following a weak trend in the international currency market. INR touched its bottom as investors feared that continuing bearish trend in lira may result in a global currency turmoil as Turkish currency, lira recorded a 45 per cent drop against USD this year. With a bearish trend in the Indian currency, the investors treating USD as a safe haven for their investment. INR was seen trading at Rs 69.92 against USD as of 09.00 GMT on Tuesday (14). Lira has tumbled about 45 per cent…

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