Rupee crashes all-time low of 69.2 against dollar

The rupee hit a record low of 69.12 against the dollar on Friday, seconds after opening slightly higher. The local currency opened at 69.01 per dollar, up 4 paise against previous day’s close. The US currency as upbeat comments on the US economy by the Federal Reserve chairman drove the greenback to one-year high levels higher against global currencies.

This is the biggest single-day fall since 29 May and goes hand in hand with a stronger US dollar.

The currency, however, shed 7 paise to touch intraday low of 69.12, its all-time low level vs dollar. The rupee had touched its previous all-time intra-day low of 69.10 on June 28.

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On Thursday, the domestic currency took a hard 43-paise knock to close below the 69 level for the first time at a historic closing low of 69.05 against the US currency as upbeat comments on the US economy by the Federal Reserve chairman drove the greenback to one-year high levels higher against global currencies. Because of discomfort and distrust among investors and couple of ongoing local issues, Indian rupee suffered a major setback in international market against the surging dollar. Due to lack of market moving factors, the dollar showed a mixed trend in the forward market.

Indian rupee also marked low against the Japanese yen and benched at 61.12 per 100 yens from 60.74.