Millennium Post

Rupee crashes to lifetime low of 69 against US dollar

NEW DELHI: The Indian rupee recovered marginally from its lifetime low to trade at 68.95 per dollar in late morning deals on Thursday amid heavy month-end demand for the American currency from importers and banks. In early trade today, the rupee fell to an all-time low tracking Asian peers, with weakening macroeconomic fundamentals on the domestic front also weighing on the currency.

The dollar's sharp gain overnight coupled with falls in Asian peers caused the drop in early trade, traders said, adding they were hopeful the central bank would step in to prevent further losses.

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