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Rupee falls to record low of 71.10 against US dollar

Rupee falls to record low of 71.10 against US dollar

The Indian rupee has fallen to a new lifetime low of 71.10, shedding 10 paise against the U.S. dollar in late afternoon trade on Monday, tracking weakening trend in emerging market currencies.

A surge in global oil prices, concerns over the U.S -China trade war and contagion risks from Turkey and Argentina are the factors impacting forex market sentiment. Brent crude oil moved up by 0.57 per cent 78.08 a barrel. The rupee’s previous record low was 71, marked on August 31.

The BSE Sensex fell over 332.55 points to end at 38,312.52 and the NSE Nifty dipped below the 11,600-level by losing 98.15 points to close at 11,582.35 on Monday on heavy losses in FMCG, realty, power, banking, auto, oil & gas, PSU, IT, Teck, infrastructure and capital goods counters amid a global rout in equity markets. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs.212.81 crore on Friday, as per provisional data

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