Indian Rupee hit record low of 69.09 per US dollar

INR hit a fresh lifetime low of $69.09.
The sharp drop in Yuan - the regional anchor, has likely bolstered the bearish pressure around the INR.

Omkar Godbole FXStreet Contributor

The Indian Rupee (INR) fell to record low of $69.09 on Thursday due to rising oil prices and a sharp decline in the Chinese Yuan- a regional anchor

At press time, the USD/INR pair is trading at $68.95.

The Chinese Yuan (CNY) has dropped close to 4 percent in the last 14 days and is likely pulling INR and other Asian currencies lower with it.

INR has been steadily losing ground this year as oil rally put the focus back on India's widening current account deficit. Further, slowing economy and rising interest rates in the US have complicated matters for the Indian Rupee.

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Neutral	High
1H		Overbought	High
4H	Bullish	Overbought	High
1D	Bullish	Overbought	Expanding
1W	Bullish	Overbought	High
Updated Jun 28, 04:45 GMT

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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