Saturday, March 15, 2025 | 11:07 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Rupee hits new low of 74.13, plunges 55 paise against US dollar

Image

Press Trust of India Mumbai

The Indian rupee Friday crashed below the 74-level against the US dollar for the first time ever

after the Reserve Bank kept its key policy rate unchanged.

The domestic currency was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.

Investors remained concerned over sustained foreign capital outflows and fears of widening current account deficit in the wake of soaring crude oil prices.

At the Interbank Foreign Exchange (Forex) market, the local currency opened higher at 73.56 a dollar against its previous record low closing of 73.58. But, it failed to sustain the initial strength and fell back to breach the 74-mark.

 

On Thursday, the domestic unit plummeted by 24 paise to end at record low of 73.58 a dollar.

The BSE Sensex too plunged by 584.53 points, or 1.66 per cent, to 34,584.63 in late afternoon trade.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 05 2018 | 3:05 PM IST

Explore News