Rupee fall continues, hits 70 against Dollar

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Mumbai: The Indian Currency Rupee today breached the 70 a dollar mark for the first time, as concerns about Turkey’s economic woes persisted.

The currency which opened today at 69.84, touched a high of 69.75 a dollar. But after later it erased all morning gains to hit all-time low 70.07 at 10.35 am, down 0.21% from its previous close of 68.93. The home currency opened

The 10-year bond yield stood at 7.801%, from its previous close of 7.823%. Bond yields and prices move in opposite directions.

India’s retail inflation dropped to a nine-month low of 4.17% in July from 4.92% a month ago on the back of softening food prices and a favourable base. Core inflation eased to 6.1% from 6.4% a month ago.

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