Rupee touched new low against USD, may touch Rs 70

Mumbai, Nov 24,  Rupee plummeted once again to reach new low 68.84 by dropping another 28 paise against US dollar  in early trading hours on Thursday.It reached to this level in late August 2013.

Domestic currency consistently loosing against the US dollar after Donald Trump’s victory on November 8th and cosistant outflow of foreign funds because of upward trend in international  markets.

Rupee lost close 3 per cent after Trumps victory and selloff by Indian equities market.Analysts are predicting that, in a few months, it may go further down to touch  70 against USD  because of conservative approach of Trump’s policies towards economy and  local government’s demonitisation of Rs 500 and 1000 Banknotes

 

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