Rupee hits fresh record low, touches 71.27 against US dollar

Mumbai: The Indian Rupee once again slided to 71.27 against the US Dollar, hitting another historic low, losing .06 paise on Tuesday. 

Despite a positive start on Monday morning, the Indian currency crashed to 71.21 against the US dollar by closing time.

Dampened by rising crude oil prices and international trade war tensions, the Indian rupee has been witnessing a fall since mid-August. 

High oil prices along with outflow of foreign fund from the equity and bond market led to the rupee`s decline, said Anindya Banerjee, Deputy Vice President for Currency and Interest Rates with Kotak Securities.

With year-to-data, the rupee has fallen by 11 per cent - making it the worst-performing currency in Asia, reports PTI.

Meanwhile, the prices of petrol and diesel hit a new high for the 10th consecutive day. Petrol is being sold at Rs 79.31/litre in Delhi while the price of diesel is at Rs 71.34/litre.

In Mumbai, the price of petrol is Rs 86.72/litre while diesel is being sold at Rs 75.74/litre.