Rupee crashes to new record closing low of 74.06 against US dollar

The rupee today touched a life-time low of 74.23 (intra-day) after the Reserve Bank of India (RBI) unexpectedly kept the policy rate unchanged. The Indian currency closed at 74.06 against its previous close (October 5) of 73.76. Forex dealers said the dollar's strength against major global currencies weighed on the rupee sentiment.

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