Rupee hits new all -time low

by Business | 16-08-2018 | 5203 views

The Indian rupee on Thursday touched a fresh all-time low of 70.40 against the US dollar after the country's trade deficit widened to a more than 5-year high in July. The rupee ended at 70.16 a dollar, down 0.38%, from its Tuesday’s close of 69.89. The currency opened at 70.25 and touched an all time low of 70.40 a dollar. On Wednesday, markets were closed due to Independence Day. The local currency closed below the 70-mark for the first time after it settled at 70.16. The rupee has fallen about 9% against the dollar so far this year. The 10-year bond yield ended trading at 7.863%, from its previous close of 7.818%. Bond yields and prices move in opposite directions.

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