Rupee sinks further

Rupee sinks further


The rupee sunk to an all time low of 74.48 against the US $ on Thursday it has been reported. It opened at 74.37 and slipped lower to 74.48.

On Wednesday, breaking a six week losing phase the rupee had closed 18 paise higher.

Strong demand for the US dollar and sharp losses in the domestic equity market along with concerns of rising fiscal deficit affected domestic currency.