Rupee sinks further, hits record low of 73.77 against US dollar

Rupee fell 43 paise against the dollar to hit a new all-time low of 73.77.

The rupee on Wednesday plunged to breach the historic low of 73 level as soaring crude oil prices fuelled worries over capital outflows and widening current account deficit.

The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent at the interbank foreign exchange.

In the day trade, the rupee crashed to its all-time low of 73.42 per dollar as crude oil prices breached the USD 85 per barrel mark, leading to huge outflows of cash.

Investors remained concerned over sustained foreign capital outflows and soaring crude oil prices, analysts said.

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