Rupee hits fresh 28-month low, plunges past 68 Vs US dollar

Zee Media Bureau

The rupee fell past the 68-mark against the US dollar in intra-day trade Wednesday for the first time since September 4, 2013.

The rupee is inching closer to a record low of 68.85 hit in August 2013, as a continued fall in global oil prices raised concerns about the global economy.

The domestic unit resumed lower at 67.77 per dollar as against yesterday's closing level of 67.65 at the interbank Foreign Exchange (Forex) market.

Later, it depreciated further to cross 68-level after 28 months at 68.17 per dollar before ending at 67.95, showing a loss of 30 paise or 0.44 per cent.

The rupee had hit a record low of 68.85 in August 2013, when the country was in the midst of its worst currency turmoil since the balance of payment crisis.