Rupee sinks to new low of 70.52, slumps 42 paise against US dollar
The rupee today collapsed to a lifetime low of 70.52 by plunging 42 paise against the dollar on strong month-end demand for the American currency amid foreign fund outflows
Consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure. Image source: Reuters