Rupee hits record low amid political crisis

Tuesday, 30 October 2018 01:45 -     - {{hitsCtrl.values.hits}}

Reuters: The rupee slumped to a record low on Monday as growing political turmoil sparked buying of dollars by importers. The rupee dropped to a record low of 174.30 per dollar on Monday, surpassing the earlier record of 173.08 hit on Friday.  The rupee ended at 173.75/90 per dollar, compared with its previous close of 173.05/20. 

It has weakened 2.8% so far this month after a 4.7% drop in September against the dollar, and has dropped 13.2% so far this year.