Rupee falls by 41 paise, reaches lifetime low of 79.36 against US dollar
The record low was on account of a stronger dollar and India’s recent trade data that was below expectations
The rupee on Tuesday fell by 41 paise to close at another lifetime low of 79.36 against the US dollar, NDTV reported.
The domestic currency opened at 79.04 against the dollar in the forex market. It reached an intra-day high of 79.02 and intra-day low of 79.38 before ending the day at 79.36, according to PTI.
On June 29, the rupee had declined under the 79-mark against the US dollar for the first time, when it had closed at 79.03.
The record low on Tuesday was on account of a stronger dollar and India’s recent trade data that was below expectations, Anuj Choudhary, research analyst at financial services firm Sharekhan said.
India’s trade deficit rose to a record $25.63 billion (Rs 2,032.99 billion) due to a major increase in gold and crude oil imports, as per preliminary data released on Monday.
Meanwhile, global oil benchmark brent crude fell by 1.10% to $112.25 per barrel, PTI reported.
The BSE Sensex fell by 0.19%, or 100.42 points, to end the day at 53,134.35. The broader NSE Nifty fell by 24.50 points, or 0.15%, to 15,810.85.