Rupee plunges to record low of 73.34 against US Dollar

Rupee currency

Mumbai, Oct 3 : The Indian rupee hits all-time low of 73.34 against US dollar in morning trade on Wednesday due to sharp rise in global crude oil prices .

The Reserve Bank of India (RBI) on Monday said that it would pump Rs. 36,000 crore into money markets in October, pledging to buy back government bonds as part of a bid to quell fears of a credit crunch cascading through the economy.

 Crisis-hit IL&FS (Infrastructure Leasing and Financial Services) will be taken over by the government as debt defaults by the infrastructure group have led to fears of contagion in the markets and a liquidity crisis.

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE opened at 36,602.85 points, which was also its high point. It touched a low of 36,325.15. On Monday, the Sensex closed at 36,526.14 points.

 

The new board, which includes banker Uday Kotak as non-executive chairman, will meet before October 8 and submit a roadmap before the next hearing of the tribunal on October 31.

 

The Sensex is trading at 36,433.25 points down by 98.54 points or 0.27 per cent.

On the other hand, the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 10,982.70 points after closing at 11,008.30 points on Monday.

The Nifty is trading at 10,968.95 points in the morning.
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