India

Rupee hits record low of 69 against US dollar

The rupee fallen to a lifetime low of 69.10 against the US dollar by diving 49 paise in early exchange today as rising raw petroleum costs extended worries about the nation’s present record shortage and expansion flow.

Reliable dollar request from banks and merchants, for the most part oil refiners, following higher unrefined petroleum costs held the rupee under strain.

At the interbank outside trade showcase, the rupee opened at 68.87 a dollar against 68.61 beforehand and sank to 69.10 in morning bargains, falling 49 paise.

Worldwide oil costs have moved after the US requested that its partners end all imports of Iranian oil by November. Worries over supply interruptions in Libya and Canada likewise pushed costs higher.

Higher unrefined petroleum costs and a declining rupee are a one-two punch for India, forex merchants said.

In the interim, the benchmark Sensex was around 90.26 focuses, or 0.25%, at 35,126.85 in early exchange today.

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