NEW DELHI: The embattled rupee on Tuesday plunged 46 paise to close at a new record final low of 72.97 towards america buck, news agency Reuters reported. The Indian currency had in the past hit an rock bottom of 72.91 (intra-day) on September 12.
Last week's record low used to be breached regardless of intervention from the Reserve Bank of India (RBI) that offered bucks past due in the day in a bid to stem the slide in the rupee, said dealers.
In the early business, the home currency recovered 10 paise to 72.41 towards america buck amid volatility on fresh selling of america currency through exporters and banks. But in past due afternoon deals, the rupee gave up the preliminary gains to hit a new low.
The currency had closed at 72.51 on Monday.
Finance minister Arun Jaitley had blamed the depreciation of rupee to a mixture of world elements, including business war and internal policy choices of the United States.
Last week on Friday, the government had introduced five-pronged solution to care for the slide in currency and widening present account deficit (CAD). The steps taken to arrest fall in rupee come with removing of withholding tax on Masala bonds, leisure for overseas portfolio investments, curbs on non-essential imports.
The rupee had fallen more than 12 according to cent towards the buck this yr and is the worst appearing Asian currency.
(With inputs from agencies)
Last week's record low used to be breached regardless of intervention from the Reserve Bank of India (RBI) that offered bucks past due in the day in a bid to stem the slide in the rupee, said dealers.
In the early business, the home currency recovered 10 paise to 72.41 towards america buck amid volatility on fresh selling of america currency through exporters and banks. But in past due afternoon deals, the rupee gave up the preliminary gains to hit a new low.
The currency had closed at 72.51 on Monday.
Finance minister Arun Jaitley had blamed the depreciation of rupee to a mixture of world elements, including business war and internal policy choices of the United States.
Last week on Friday, the government had introduced five-pronged solution to care for the slide in currency and widening present account deficit (CAD). The steps taken to arrest fall in rupee come with removing of withholding tax on Masala bonds, leisure for overseas portfolio investments, curbs on non-essential imports.
The rupee had fallen more than 12 according to cent towards the buck this yr and is the worst appearing Asian currency.
(With inputs from agencies)
Rupee plunges to new closing low of 72.97 against dollar
![Rupee plunges to new closing low of 72.97 against dollar]()
Reviewed by Kailash
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September 18, 2018
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