Rupee continues to fall

Guwahati, October 3, 2018:

The Indian rupee hit a new low of 73 mark against dollar on Wednesday. It is for the first time that on strong demand for American currency from importers, the Indian rupee crashed below the 73 mark.

The domestic currency dropped 43 paise to Rs 73.34 at the Interbank Foreign Exchange (forex) market, against its previous closing of 72.91 on Monday.

The investors were concerned over the continuous foreign capital outflows and spiralling crude oil prices that crossed the USD 85 per barrel. According to forex dealers, apart from growing demand for the American currency from importers, concern about rising fiscal deficit and capital outflows measured on the domestic currency.