Rupee slides to fresh all-time closing low

In the day trade, the rupee plunged to a record low of 70.90 to the dollar as firming oil prices fanned fears of widening current account deficit. A stronger dollar in overseas markets and losses in local stocks markets also impacted the rupee sentiment. The dollar index, which shows the dollar strength against a basket of currencies, was trading up 0.11 per cent at 94.56.

from Times of India https://ift.tt/2N0mIsq