Rupee breaches 74-mark against US dollar for first time

The rupee breached the historic low of 74-mark for the first time against the US dollar on Friday at the forex market despite the government's steps to stem a steep fall in the currency.

Forex market didn’t like the Reserve Bank of India’s move to keep repo rate unchanged at 6.50%. The six-member monetary policy committee of the Reserve Bank of India on Friday refrained from increasing the repo rate, the short-term lending rate.

(Details are awaited)