Indian rupee hits lifetime low of 70.28 against USD

Source: Xinhua| 2018-08-16 14:18:08|Editor: xuxin
Video PlayerClose

NEW DELHI, Aug. 16 (Xinhua) -- The Indian rupee Thursday recorded a lifetime low during early trade as it hit 70.28 against the U.S. dollar.

On Tuesday the rupee closed at 69.89 against the U.S. dollar.

"At 9:15 a.m. (local time), the rupee was trading at 70.27 a dollar, down 0.53 percent, from its Tuesday's close of 69.89. The home currency opened at 70.25 and touched an all time low of 70.28 a dollar," a market analyst said.

On Wednesday, markets in India were closed in wake of public holiday on account of Independence Day celebrations.

The slump in rupee was triggered by the fall in Turkish lira, which helped the U.S. dollar to gain.

The fall in rupee will make imports of crude oil, fertilizers, medicines and iron ore costlier.

"The weakening of rupee will certainly result in increase in price rise of the commodities directly as well as indirectly and thereby would end up inflating household expenditures," Anil Sharma, a market expert said.

The free fall in rupee has triggered a debate between ruling Bhartiya Janta Party and opposition Congress party. While the BJP attributes it to the hostile external factors, Congress party blames Modi government's wrong economic policies for the depreciation of the currency.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001373950501
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
午夜高清国产拍精品福利 | 日韩免费AV乱码高清专区 | 婷婷中文字幕在线免费观看 | 亚洲精选91福利在线观看 | 亚洲欧美日韩中文不卡 | 在线看片免费视频 |