Rupee falls to the lowest level of 73 against dollar

Rupee falls to the lowest level of 73 against dollar
14 Sep

The rupee fell to an all-time low of 73 rupees per dollar against the dollar in the interbank currency market on Wednesday.

Rupee is continuously falling from the high level of crude oil and continuous withdrawal of foreign capital.

Currency dealers said the pressure on the rupee on the trade front between the United States and China, and the pressure on the rupee after the demand for US currency from the banks and importers on the demand of crude oil has forced the rupee to pressurize.

Apart from this, continuous foreign capital withdrawal was seen in domestic currency pressure. On Tuesday, the rupee had lost 24 paise to close at a low of 72.69 against the dollar in the trading day.

Brent crude oil gained 0.35 percent to Rs 79.34 a barrel. It has been more than 2 percent faster on Tuesday.

Earlier, Indian Finance Minister Arun Jaitley had said that the fall in rupee is due to global factors. He stressed that the position of rupees is better than other currencies.

He said that the rupee has not weakened. It is stronger than other currencies such as pounds and euro.

Although the rupee continues to decline, the rupee has slipped below 72 per dollar for the first time with a sharp 37 paise fall in trading on Thursday.

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