Rupee hits record low, breaches 70 level against US dollar

Mumbai: Though, the Rupee slightly recovered in early trade at 69.84, improving by 9 paise, it immediately crashed, breaching 70 level at 70.08, all-time low at intra day trade, on rising demand for US Dollars by banks and importers, dealers at the Forex Market said.

The local unit remained under pressure on strong Dollar against other world currencies amid recovery in opening in equity market, they said.

A major fluctuation was seen during an intra day trade as it registered day high and low at 70.08 and 69.69 respectively, they added. (UNI)