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Rupee plunges to all-time low

The Indian rupee hits all-time low of 73.34 against US dollar in morning trade on Wednesday.Analysts are predicting that there are indications crude oil $100 per barrel and Indian currency Rupee will depreciate further in the coming three months of 2018

New Delhi (India) Oct 3 : The Indian rupee hits all-time low of 73.34 against US dollar in morning trade on Wednesday.Analysts are predicting that there are indications crude oil $100 per barrel and Indian currency Rupee will depreciate further in the coming three months of 2018

The rupee dropped to a record low in opening deals on Wednesday as a sharp rise in global crude oil prices .The Indian rupee will remain under pressure as its central bank is unable to tame inflationary pressures in the economy.

The Reserve Bank of India is widely expected to increase its repurchase rate by 25 basis points (bps) when it unveils the monetary policy on Friday, as it seeks to curb the potential inflationary impact from rising crude oil prices and a weakening currency.

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