Indian Rupee now historic low against Dollar

The Indian rupee after rising briefly fell again vs the US dollar to touch a new low above Rs 72/$. The Indian rupee went below the 72 for the first time ever. The INR was quoted 37 paise lower at 72.12 against the US dollar in afternoon trade.

The rupee’s fall continued for the seventh straight session, the domestic unit plummeted to a historic low of 72.12 a dollar in intraday trade before finding some respite.

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

Finance Minister Arun Jaitley Wednesday attributed the fall in the rupee to global factors and stressed that the domestic unit was better off as compared to other currencies.

The BSE Sensex too entered the negative zone by falling 61.11 points, or 0.16 per cent, to 37,957.20 points in afternoon trade.

[source_without_link]SIASAT NEWS[/source_without_link]