Rupee weakens further, hits fresh low to 72.48 against USD
Mumbai, Sept 10 (PTI) The rupee weakened further to hit a fresh low of 72.48 against the US currency, falling 75 paise in late morning deals Monday on rising crude oil prices, strengthening dollar and a widened current account deficit.
India's current account deficit (CAD) widened to USD 15.8 billion in April-June in value terms this year as against USD 15 billion in the same quarter of 2017-18, mainly due to a higher trade deficit, according to RBI data released Friday.
Domestic macro situation and dollar's strength amid fear of currency crisis continued to spook the rupee, a dealer said.
Overseas, the US dollar edged higher against a basket of currencies in early Asian trade on strong US August jobs data and fears of an escalation in the China-US trade conflict.
Meanwhile, the 30-share BSE Sensex is trading lower by 238.01 points, or 0.62 per cent, at 38,151.81 at 1055 hrs.