Rupee hits a new low to 70.81 per USD, Markets slip after opening positively

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Mumbai:  The Indian stock markets today opened marginally higher with BSE Sensex and NSE Nifty beginning slightly higher in positive territory. However the indices witness drop with the Sensex slipped by 41.71 points to 38,681.22 points and Nifty also slipped by 18.45 points to 11,673.45 points.

The Indian rupee dropped by another 23 paise to hit a new all-time low to 70.81 against US dollar. Earlier yesterday, the Indian rupee fell more than 50 paise to a record low of 70.64 before closing at 70.59, down 49 paise against the US dollar. Asian stocks rose on Thursday as Wall Street hit record highs in the hope that the current North American Free Trade Agreement (NAFTA) negotiations will lead to a further easing of global trade tensions, a Reuters report said.

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