Kochi : The Indian Rupee falls to fresh record low of 79.37 against US dollar following weaker-than-expected domestic data.
The country’s merchandise trade deficit ballooned to a record USD 25.63 on the back of steep increase in gold and crude oil imports. The figure translates to 62 percent higher deficit compared year-on-year.
According to popular analysts, widening trade deficit is here to stay for a while and the Indian currency will continue to slide in the next quarter too.