Rupee hits new all-time low against US dollar


The Indian rupee collapsed to a lifetime low of 70.52 by plunging 42 paise against the US dollar on strong month-end demand for the American currency amid foreign fund outflows, reported news agency PTI.

The rupee opened lower at 70.32 a dollar against the earlier low of 70.10, dropping further to a new low of 70.52 — down by 42 paise.

The fall in the value of rupee comes on the back of strong US consumer confidence data which rose to its highest level since October 2000. After Thailand’s baht, the Indian rupee is the worst performing currency in Asia, ‘Business Today’ reported.