New Delhi | Breaking its earlier record, the Indian rupee on Friday reached a new low when it crossed the value of 74 against US Dollar.
Earlier on Friday morning, the Indian currency recovered 6 paise to 73.52 against the US dollar at the forex market ahead of the RBI’s monetary policy outcome amid fresh selling by exporters as the government stepped in to reduce oil prices. Marking its third session of losses rupee on Thursday closed at a record low of 73.58, down by 24 paise or 0.33 percent
The stock market has also dropped 835 points falling to 34,273 points even after the Reserve Bank of India (RBI) in its fourth Monetary Policy Committee (MPC) meeting of FY19 kept the key lending rate unchanged at 6.5% and changed its stance to ‘calibrated tightening’.
The biggest losers today in the stock market crash were ONGC, Reliance Industries, M&M, Vedanta, Bajaj Auto, Coal India, Tata Steel, ITC, HUL, SBI, HDFC and Hero MotoCorp.
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