Indian rupee hits record low against US dollar

World

MUMBAI (Reuters) : The Indian rupee dropped to a record low in opening deals on Wednesday as a sharp rise in global crude oil prices over the last two sessions weighed on sentiment for the local unit.

The partially convertible rupee hit 73.34 per dollar in early trade, an all-time low, and sharply lower than its previous close of 72.91. At 0335 GMT, the rupee was trading at 73.30. Markets were closed on Tuesday for a local holiday.

The benchmark 10-year bond yield was up 6 basis points at 8.05 percent.

Oil prices firmed on expectations of a tighter market once U.S. sanctions start targeting Iran's petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains. Prices however remain at highest levels since November 2014.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

March 11, 2025

- 1646 - 0

Rapist of lady doctor at Anuradhapura identified as army deserter, parliament told

Public Security Minister Ananda Wijepala told Parliament today that the suspect in the rape of a lady doctor at the Anuradhapura teaching hospital has been identified as an army deserter and he will be apprehended shortly.

March 12, 2025

- 565 - 0

Suspect involved in sexual assault of Anuradhapura doctor arrested

Police have arrested the suspect connected to the sexual assault on a female doctor at the Anuradhapura Teaching Hospital today morning in Galnewa.

March 6, 2025

- 464 - 0

IMF insists SriLankan Airlines be restructured within this year

March 11, 2025

- 372 - 0

Dutch authorities investigate companies suspected of paying bribes for Sri Lanka hospital projects

The Dutch Public Prosecutor suspects two companies of paying bribes in the construction of hospitals in Sri Lanka, according to an investigation by FD, the Dutch financial newspaper.

March 6, 2025

- 321 - 0

Budget 2025: No plans to further revise public sector salaries and allowances

March 8, 2025

- 233 - 0

Internationally funded projects only on Govt-to-Govt basis in future

The Minister of Power, Kumara Jayakody, stated that in the future, internationally funded projects, such as power projects, will only be carried out through government-to-government (G2G) agreements and competitive procurement.