Rupee hits life-time low; falls to 69.05

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Mumbai, (Maharashtra) [India] July 20 (IND Samachar): The Indian Rupee (INR) on Thursday plunged at a life-time low of Rs 69.05 against the US dollar after suffering a 43-paise knock.
The Indian Rupee had opened lower by eight paise at 68.70 per dollar yesterday.
The reason behind such a fall was a fresh 52-week surge in US dollar after the Federal chief’s testimony in front of the US Senate assured hikes in interest rates.
Previously on June 28, the Indian Rupee (INR) touched an all-time low against the US dollar at 68.89 per dollar, after it closed at 68.61 on June 27.
While maintaining a 19-month low, the Rupee had further depreciated owing to the increase in the international crude oil prices and trade war concern between the United States and China.