New Delhi: Continuing its unabated fall for the seventh consecutive day, the Indian rupee slipped below the 72-level on Thursday for the first time ever on persistent global headwinds and concerns on macroeconomic front. Also Read - Rupee Opens 5 Paise Higher at 71.30 Against USD, Sensex Soars to 41,695 in Early Trade
The domestic currency was quoted 37 paise lower at 72.12 against the US dollar in afternoon trade. Also Read - Year-Ender 2019: Country's Political Bigwigs Who Left us in The Year Gone by
Investors remained concerned over sustained foreign capital outflows and widening current account deficit in the wake of soaring crude oil prices. Also Read - US Dollar Declines Against British Pound as Boris Johnson Wins UK Polls
At the Interbank Foreign Exchange (Forex) market, the local currency opened higher at 71.67 a dollar against its previous record closing of 71.75, but failed to sustain initial strength and fell back to breach the 72-mark.
The rupee’s unabated fall continued for the sixth straight session Wednesday, hitting yet another closing low of 71.75, down 17 paise against the US currency.
On Wednesday, the domestic unit plummeted to a historic low of 71.97 a dollar in intraday trade before finding some respite.
Yesterday, Finance Minister Arun Jaitley had attributed the fall in rupee to global factors, asserting that the dollar had strengthened against almost every currency while the Rupee has either consistently strengthened or remained in a rage but not weakened.