NEW DELHI – Indian Rupee touches historic low against US dollar as it iscontinuing its slide.
The rupee weakened by 33 paise to 72.96 against the US dollar Tuesday, hurtby increased demand for the American currency from importers as globalcrude oil prices hit four-year high.
The international benchmark Brent crude breached the USD 81 a barrel markby surging over 3 per cent to trade at USD 81.28 a barrel.
Traders said besides sustained demand of the US currency from importers anddollar’s strength against some currencies overseas ahead of US FederalReserve’s meet, a lower opening in the domestic equity markets too weighedon the domestic unit.
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On Monday, the local currency had ended sharply lower by 43 paise to 72.63against the US dollar after crude prices soared ahead of impending USsanctions on Iran.
