The rupee today touched a fresh low of 69.12 against the US dollar following the news of Chinese central bank weakening its daily reference rate for the yuan by the most in two years. The rupee slide has continued to slide for three straight days. The yuan also slipped by 0.28 per cent to 6.7943 per dollar. This is the lowest levels in the past one year given the escalating trade war risk between the US and China. Also Read - Rupee Hits Record All-Time Low of 70.32, Slips 43 Paise Against Dollar
The rupee has touched the fresh low ahead of a no-confidence motion in Parliament today making politicians reacting to the news on Twitter.
The tension between the US and China in terms of trade between the two countries has also made currency traders worried about the future of global trade. The rupee opened higher at 69 a dollar against 69.05 previously at the interbank foreign exchange market.
However, following the plunge in the yuan, the domestic currency fell to an all-time intra-day low of 69.12 against the American currency, showing a fall of 7 paise.
Previously the rupee touched an all-time low on June 28 at 69.10.
A mad rush for dollar was witnessed as importers expected further erosion in the rupee value, forex dealers told PTI.
Yesterday, the rupee took a hard 43-paise knock to close below the 69 level for the first time at a historic low of 69.05 against the US currency as upbeat comments on the US economy by the Federal Reserve chairman drove the greenback to one-year high levels higher against global currencies.
Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth a net of Rs 315.69 crore yesterday, provisional data showed.
The benchmark BSE Sensex rose by 71.68 points, or 0.20 per cent, at 36,422.91 in early trade today.
(With Inputs From PTI)