Indian Rupee Slides To Record Low Against U.S. Dollar
August 14 2018 - 10:56PM
RTTF2
The Indian rupee breached the psychological mark of 70 against
the U.S. dollar in morning deals on Wednesday, touching an all-time
low, as investors continue to fret about Turkey's financial
crisis.
Indian Economic Affairs Secretary Subhash Chandra Garg
attributed the weakness in rupee to "external factors" and said
that there is nothing at this stage to worry as the depreciation is
in line with other currencies. Garg said that external factors are
likely to ease going forward.
Meanwhile, Indian stock markets remain closed today on account
of Independence Day.
The rupee extended its losing streak to hit a record low of
70.56 per dollar, down 0.9 percent from Tuesday's closing value of
69.91.
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