Rupee falls to fresh low of 71.58 per US dollar
High crude oil prices and negative global cues pulled the Indian rupee to a new record low of 71.58 per US dollar on Tuesday.
It opened at 71.24 per US dollar surpassing the previous low of 71.21 per greenback, at which it had closed on Monday.
The Indian rupee closed at 71.58 per US dollar — the lowest ever mark — against the greenback at the Inter-Bank Foreign Exchange Market.
Against Kuwaiti Dinar, Indian Rupee crossed 235 Rs today. The Indian expatriates took it as a good opportunity for sending money to India and large crowds of expats were seen at many money exchange companies in Kuwait as the Indian rupee continued its free-fall against major currencies across the world.
In recent days, geo-political developments over trade protectionist measures along with high crude oil prices and an outflow of foreign funds from the equities market have pulled the Indian rupee to fresh record intra-day and closing lows.