Rupee hits all-time low at 70.82
Mumbai, Aug 30 (IBNS) : The rupee continued to plunge new lows for the fourth consecutive session as it on Thursday plunged to 70.82 a dollar-an all-time record.
According to reports, the fall was triggered by strong month-end dollar demand from oil importers and foreign fund outflows.
At 10:22 am, the rupee was trading at 70.68 a dollar, down from its previous close of 70.59 on Wednesday. The currency opened at 70.69 a dollar and touched a fresh all-time low of 70.82 a dollar.
The rupee plummeted by 49 paise to 70.65 against the dollar and closed at a new low of 70.59 on Wednesday, This was the biggest single-day decline since August 13 when it dropped 110 paise, or 1.6 per cent.
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