On Thursday Rupee Opened At Record Low 70.19 Against The US Dollar

On Thursday, rupee opened at record low 70.19 against the US dollar and further slipped to 70.26. It hit 70 to the dollar for the first time on Tuesday, falling 15 paise intraday due to sharp depreciation in Turkish lira.

The rupee has fallen more than 9 percent year-to-date and around 2 percent in August.

Samiran Chakraborty of Citi told CNBC-TV18 that persistent disappointment on the current account deficit (CAD) & weak Emerging markets sentiment opens up the possibility of the dollar-INR heading towards the 72 mark as the 67 to 69 range shifted to a 69 to 72 range.

For more information ✆ +91 9111-179961 or Visit Dollar Advisory