Under Pressure
As the Indian rupee reached a record low of 87.58 to the dollar on Thursday, it finds itself at a critical juncture, navigating a sea of global and domestic pressures.
The rupee took a hit of 16 paise at 64.56 against the US dollar, unable to digest a negative set of macroeconomic data.
According to data released, industrial growth in October hit a 3-month low of 2.2 per cent while retail inflation in November rose to a 15-month high of 4.88 per cent.
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A lower opening in domestic stock markets, rise in global crude oil prices and a resurgent dollar against other currencies ahead of the Fed policy announcement later in the day kept the rupee on the edge.
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The rupee had shed 3 paise at 64.40 against the US currency in a quiet session.
The benchmark Sensex fell 104.55 points, or 0.31 per cent, to 33,123.44 in early session today.
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