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Indian Rupee at fresh record low, now at 73.33 versus the US dollar

Google Oneindia News

New Delhi, Oct 3: The Indian rupee opened at all time low 73.24 per dollar on Wednesday as it crossed 73 for the first time.

Indian Rupee now at 73.33 versus the US dollar

It has opened lower by 33 paise versus Monday's close 72.91.

Traders were concerned that a rise in US interest rates and expensive oil could lead to fiscal slippage, increase inflationary pressures and raise the chances of the Reserve Bank of India (RBI) increasing interest rates in its monetary policy review later this week.

Rupee continued to remain under pressure and today is expected to open at fresh record low levels following sharp surge in global crude oil prices. Brent crude is now at four-year high levels on worries that global supplies will drop due to Washington's sanctions on Iran, said Motilal Oswal.

Meanwhile, the benchmark Sensex rose 0.36% to 36,656.91 points on Wednesday. Year to date, it has gained 7.25%.

So far this year the rupee has declined 12.07% and foreign investors have sold $2.01 billion and $7.11 billion in the equity and debt markets, respectively.

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