Rupee slips to a new low; touches 71.79/$

TIL Desk/Business/Mumbai/ The rupee plunged to a fresh record low of 71.79 to a dollar during the morning trade session on Wednesday.

Around 11.40 a.m. the rupee traded at 71.76 to a dollar before it touched 71.79 — the lowest ever mark — against the greenback.

The rupee had earlier touched 71.75 to a dollar around 10.40 a.m. on Wednesday.

The Indian rupee opened the day s trade at the Inter-Bank Foreign Exchange Market at 71.44-45 to a dollar from its previous close of 71.58 to a greenback.

According to Anindya Banerjee Deputy Vice President for Currency and Interest Rates with Kotak Securities the weakness in the country s equity and bond markets led to the rupee s fall.