From The Times of India
MUMBAI: The rupee plunged to a new record low of 68.75 per dollar in the late morning trade on Wednesday on persistent dollar demand from banks and importers due to further fall in equity market amid rise in crude oil prices.
The rupee resumed lower at 66.90 per dollar as against the last closing level of 66.24 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to an all-time low of 68.75 per dollar at 10.45am.
Persistent capital outflows by foreign funds also affected the rupee value against the dollar, a forex dealer said. Foreign Institutional Investors (FIIs) sold shares worth a net Rs 1,373.99 crore on Tuesday as per the provisional data from stock exchanges.