Biznextindia : The Indian rupee crossed the 80-to-a-dollar mark and achieved a new record low in tandem with the decline in global stocks caused by the Federal Reserve’s hawkish rhetoric in Jackson Hole.
At 9.30 am, the local currency was down 0.25 percent from its previous close, trading at 80.03 against the US dollar. The rupee hit a record low against the dollar of 80.13 after opening at 80.07. The Rupee was closed at 79.87 in the previous session.
The South Korean won fell by 1.3%, Thai Baht by 8%, Japanese yen by 0.64, China Renminbi by 6%, Taiwan dollar by 6%, Malaysian ringgit by 5%, Indonesian rupia by 0.43, and Singapore dollar by 0.34 percent among Asian currencies.
Last month, the rupee fell to the previous all-time low of 80.06. The US dollar has increased by more than 7% this year vs the Indian rupee.