Source: Indian Express
As the Rupee fall continues, Indian currency opens at a fresh low on Friday morning. The rupee slides 71 mark to the US dollar for the first time ever. Falling 26 paise down to a new record low of 71.0013 against the USD during Friday morning trade, rupee grows fear among Indian importers.
Thursday evening it marked the closing at another fresh low of 70.74 against greenback. This year in2018, Rupee has dived in 11.6% as compared to the previous year’s closing mark. According to forex dealers, increasing demand for the US dollars from the importers towards the month end weighs heavy on the domestic currency. Rising crude oil prices add to the loads on the rupees.