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  Business   Economy  14 Aug 2018  Rupee crashes to all-time low of 70.09 against US dollar

Rupee crashes to all-time low of 70.09 against US dollar

PTI
Published : Aug 14, 2018, 11:04 am IST
Updated : Aug 14, 2018, 11:27 am IST

The rupee was last at 69.99 to the dollar, compared with its previous close of 69.95 per dollar.

The rupee erased early gains to hit an all-time low of 70.1 per dollar on Tuesday, as concerns about Turkey’s economic woes persisted. (Photo: PTI)
 The rupee erased early gains to hit an all-time low of 70.1 per dollar on Tuesday, as concerns about Turkey’s economic woes persisted. (Photo: PTI)

Mumbai: Rerversing all its early gains, the rupee on Tuesday collapsed to a life-time low of 70.09 against the US dollar, falling 16 paise amid fears that Turkish economic crisis could lead to a global financial meltdown.

The ongoing currency turmoil in Turkey has dampened investors' sentiments globally. Investors are turning to dollar as safe haven with Turkeys currency lira crisis continuing since the last week.

Yesterday, the rupee had plunged by Rs 1.08, or 1.57 per cent, to a record low of 69.93 against the US currency.

Tags: indian rupee, us dollar, foreign exchange
Location: India, Maharashtra, Mumbai (Bombay)