Indian Rupee Falls to a Record Low Against the Dollar
- Indian rupee weakens past 69 to a dollar for first time
- ANZ sees rupee past 70/dollar unless capital inflows resume
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The Indian rupee slumped to an all-time low as a resurgence in crude prices and the emerging-market selloff took a toll on the currency of the world’s third-biggest oil consumer.
The Indian currency slid as much as 0.7 percent to 69.0925 per dollar Thursday, past its previous record of 68.8650 reached in November 2016. The weakness spilled onto bonds, where the benchmark 10-year yield climbed six basis points to 7.94 percent.