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Rupee reaches Rs 70 mark against US dollar for the first time ever

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The battered rupee breached the 70 mark against the US dollar for the first time ever on Tuesday. After posting its weakest ever loss of Rs. 1.09 against the US dollar on Monday, the rupee strengthened by 23 paise in early trade on Tuesday. However, at about 10:30 am, the rupee hit an all-time low of 70.1 per dollar and extended it to 70.09, as concerns about Turkey’s economic woes persisted. Analysts expect the rupee to fall further to below 70 per dollar.

 

While some were quite sceptical about how the domestic currency would fair in the ongoing Turkish currency turmoil, others couldn’t stop taking a jibe at the government and cracking jokes.

 

 

 

 

 

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