RUPEE HITS LOWEST POINT IN LIFETIME
Today rupee hits its lifetime low of Rs.56.53 per dollar. Its previous record was Rs 56.52 per dollar on 31 May,2012.
Today global markets are weakened after the Fed extended its current bond buying programme by less than some investors had hoped.
The rupee remain vulnerable to any flare-ups of global risk aversion along with domestic challenges.
The RBI disappointed domestic markets by keeping interest rates on hold on Monday. Fitch Ratings cut the country’s outlook to negative on Monday only. Earlier S&P also decreased the India’s investment grade rating.