Rupee falls to 69.05 per US dollar for first time

Indian National Rupee (INR) fell to 69.05 per US dollar on Thursday. It has weakened by over 8 per cent for the year 2018. The rupee opened at an all-time low of 68.89 against the US dollar.

Consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices kept the rupee under pressure.

Sensex was down by 90.26 points, or 0.25 per cent, at 35,126.85 in early trade today.

The embattled rupee on Wednesday plunged by 37 paise or 0.54 per cent to close at a 19-month low of 68.61 against the US dollar. Growing crude oil prices led to the fear of a widening current account gap and an increase in inflation reported news agency Press Trust of India (PTI).

This was the lowest closing for rupee against the US dollar since November 24, 2016, when it had settled at 68.73.

(With PTI inputs)