Rupee Falls Sharply To Close At Record Low Against Dollar | Read
The rupee registered a sharp decline of 109 paise to close at 69.93 against the US dollar on Monday - the biggest single-day drop in past five years. That marked the Indian currency's all-time closing low against the greenback. Other emerging market currencies plunged as investors preferred safe-havens such as the US dollar and the yen after a plunge in the Turkish Lira. The rupee traded in the range of 69.93-69.41 against the American currency before closing at the day's lowest point. The rupee had settled at 68.84 against the US dollar last Friday.
