Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
Finance News

Rupee Touches All Time Low, BSE Also Started Trading with Lower Point

In the wake global developments and strong demand for the US currency, downslide of Indian rupee continues as it slumped 43 paise against the American currency to trade at a life-time low of 70.32 today. At the Interbank Foreign Exchange, rupee opened at a record low of 70.25 a dollar, down from its previous close of 69.89, and weakened further to trade at a fresh low of 70.32, down by 43 paise.

author-image
SMEStreet Desk
16 Aug 2018 05:03 IST

Follow Us

New Update
rupee, FDI, FII, Dollar, Sensex, BSE,

In the wake global developments and strong demand for the US currency, downslide of Indian rupee continues as it slumped 43 paise against the American currency to trade at a life-time low of 70.32 today. At the Interbank Foreign Exchange, rupee opened at a record low of 70.25 a dollar, down from its previous close of 69.89, and weakened further to trade at a fresh low of 70.32, down by 43 paise.

According to forex dealers, besides strong demand for the American currency from importers, capital outflows mainly weighed on the local currency.

The domestic currency has also been hit by a sharp surge in trade deficit, which soared to a near five-year high of USD 18 billion, according to the commerce ministry data released on Tuesday showed.
The BSE Sensex fell by 207.03 points, or 0.54 per cent, to 37,644.97 points in early trade.

According to provisional data, foreign institutional investors (FIIs) also sold shares worth a net of Rs 378.84 crore on Tuesday.

On the international front, depreciation of the Turkish lira against the dollar after the US imposed tariffs on steel and aluminium imports also put pressure on the Indian rupee, forex dealer reportedly said.

The local currency had gained 4 paise to close at 69.89 against the dollar in the previous session on Tuesday.

Despite its early gains, the rupee on Tuesday had collapsed to a life-time low of 70.09 against the US dollar, falling 16 paise amid fears that Turkish economic crisis could lead to a global financial meltdown. At the interbank foreign exchange market.

Previously, the rupee had dropped 2.4 per cent or 148 paise in a single day in August 2013.

The Turkish Lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan`s influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States, a Reuters report had said.

Stock Market Rupee Trading BSE Dollar Sensex
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!