Rupee gain at all time low mark
Indian benchmark indices opened flat to negative on weak global cues and lower rupee. The Indian rupee down all-time low at Rs. 70.17 per dollar.
The Indian rupee previously touched it’s all-time low of Rs.70.1 per dollar on August 16, but recovered to 69.7 in the past few days. However, on Thursday, Rupee again touched its all-time low mark and opened at 70.17 mark.
The rupee depreciation was largely led by weak global factors. The rising tensions and tariff war between US & China. Also, investors are closely tracking Fed chairman Jerome Powell’s speech in Jacksone Hole in Friday. Fed chairman is expected to tighten the monetary policy and drive the flow of investments out of the emerging markets.
The mood was also spoiled by China imposing 25 per cent tariff on American imports worth US$16 million in retaliation of the same move by the United states. The Indian benchmark BSE Sensex was trading down almost by 0.25 per cent on Friday.