Rupee touches new low at 73.77 against US dollar
The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows. Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure. Meanwhile, state-owned oil marketing companies have been allowed to raise USD 10 billion from overseas market to meet their working capital needs.
Updated : 04 October 2018, 12:24 PM