Indian Rupee Hits Low Of 69.12 Against Dollar In Opening Trade
Indian Rupee Hits Low Of 69.12 Against Dollar In Opening Trade The rupee hit a record low of 69.12 against the dollar on Friday, seconds after opening slightly higher. The local currency opened at 69.01 per dollar, up 4 paise against previous day's close. The currency, however, shed 7 paise to touch intraday low of 69.12, its all-time low level vs dollar. The rupee had touched its previous all-time intra-day low of 69.10 on June 28. On Thursday, the domestic currency took a hard 43-paise knock to close below the 69 level for the first time at a historic closing low of 69.05 against the US currency as upbeat comments on the US economy by the Federal Reserve chairman drove the greenback to one-year high levels higher against global currencies. The domestic currency suffered a major setback as forex sentiment turned wobbled once again with a resurgent dollar and a slew of local issues sparking jitters among investors. The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
