Friday creates another havoc in the Sensex as the Rupee fall continues. It has weakened to a record much lower against the US dollar. Earlier the rupee was trading at 70.97 a dollar, but then came down 0.31% from its previous close of 70.74. The currency is now opened at 71.00 a dollar, touching a high 70.89 and a low 71.00.
The traders quote that the central bank was selling dollars through state-run banks to prevent a sudden sharp fall. Despite this, the traders do not expect any major intervention. It has been seen that since January, it has gained 13.6%.
So far this year, the rupee has weakened to a level of 9.96% against the US dollar. This has been one of the worst performers among all the Asian currencies. As per the Month to date scenario, it has fallen to 3.37%. This has been quoted as the biggest monthly fall in three years.