12 August Friday

Acche Din : Rupee Plunges To Lifetime Low of 79.37 Against Dollar

Web Desk(Tvm)Updated: Tuesday Jul 5, 2022

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.