• Thursday, August 11, 2022

Business

Indian Rupee Plunges To All-time Low of ₹ 70.65 Against Dollar

Indian Rupee Reaches its Record Low of Rs 70.65 Against Firm Dollar on Wednesday (29).

By: Radhakrishna N S

Indian Rupee touched its all-time low of 70.65 against US dollar on Wednesday (29) following high month-end demand for dollar from importers and foreign investment outflows. The Indian currency fell by 0.70 per cent or Rs 0.49 to close at 70.59 against US currency at interbank foreign exchange market. The rupee had earlier fell to its all-time closing low of 70.16 on Monday (27), earlier this week. According to the market participants, firm demand for dollar from banks, importers, oil refineries triggered by higher crude oil prices put rupee under pressure on Wednesday (29). As of now, the investors are…

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