Rupee Opens Low of 74.45 against the US Dollar

Rupee Sinks To New Low Of 74.45 Against US Dollar.

Rupee, hit an all-time low of 74.45 against the US dollar today, reported. It opened weak at 74.37 and slipped further to quote at an all-time low of 74.45, depreciating 24 paise against the US dollar in early trade.

On Wednesday, the rupee closed 18 paise higher against the dollar at 74.21 after snapping a six-session losing streak.

Strong demand for the American currency from importers amid unabated foreign fund outflows and a sharp losses in the domestic equity market hurt the sentiment.

Concerns of fears of rising fiscal deficit also weighed on the domestic currency, a report quoted forex dealers as saying.

The benchmark 10-year bond yield was down 3 basis points on the day at 8 per cent, according to a report .

In opening trade, the S&P BSE Sensex sunk as much as 1,037.36 points and the Nifty50 cracked below 10,150.

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