The rupee records new lifetime low of 73.77 by slipping 43 paise against US dollar on Thursday.
On Wednesday, the rupee plunged steeply lower against the greenback to close at 73.34, along with rising prices of crude oil.
The government would permit state oil marketing firms to raise $10 billion in overseas loans to assist them deal with a sharp rise in prices of crude oil and a falling rupee against dollar.
Managing Partner & Chief Investment Officer, TIW Private Equity, Mohit Ralhan said, “The adverse situation for rupee is continuing with a steady rise in crude oil prices, hike in interest rate by US Fed, constant tensions in global trade and the widening current account deficit.”
Since the market focused on forthcoming U.S. sanctions on Iran, oil prices reached a four-year high.
On Thursday, Brent relieved 18 cents to $86.11 per barrel and the US crude fell 16 cents to $76.25 as well.
