personal finance

Rupee hits fresh record low of 72.25 against dollar


NEW DELHI: The rupee
on Monday hit another record low of 72.25 against the dollar in early trade on account of sustained buying of American currency by banks and importers.

The local currency opened 36 paise down at 72.10 against the greenback.

The dollar inched higher against a basket of currencies
on Monday following robust US August jobs data and amid fears of a potentially major escalation in the China-US trade conflict, Reuters reported.

The US President Donald Trump warned
on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods in addition to the $200 billion already facing the risk of duties.

The dollar index was up 0.06 per cent at 95.44, moving toward a three-week high of 95.737 hit on Tuesday last week.

Meanwhile, domestic equity markets opened in red following subdued global cues. The BSE Sensex was trading 90 points, or 0.23 per cent, down at 38,300 at around
9.20 am (IST), while the NSE Nifty index was down 30.95 points, or 0.27 per cent, at 11,558 at around the same time.





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