Rupee continues to slide, hits new low against dollar
Authored By Wion Web Desk
Published: Sep 04, 2018, 20:18 IST | Updated: Sep 04, 2018, 20:18 IST
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The rupee opened higher on Wednesday but soon hit a new low of 71.87 against the dollar.
After experiencing a positive opening on Wednesday morning, the rupee again went down and hit a fresh record low of 71.87.
The rupee which closed at 71.58 on Tuesday opened higher by 20 paise on Wednesday morning.
It strengthened by 20 paise to 71.38 against the US dollar in opening trade at the interbank foreign exchange market Wednesday on fresh foreign capital inflows.
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The domestic currency had lost 37 paise to end at a fresh lifetime low of 71.58 against the resurgent dollar Tuesday as persistent trade worries and macro concerns continued to proliferate.
Analysts have claimed that the value of rupee may further go down on account of the crisis in the emerging market currencies including the consistent rise in the crude oil prices and dollar index.
(With inputs from PTI)
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