Rupee crashes to lifetime low, at 69 against US dollar

The Indian rupee (INR) has hit a new all-time low by collapsing to 69.10 against the US dollar. The Indian currency plunged 49 paise in early trade on Thursday following the increase in crude oil prices.

The rising prices deepened concerns about the country's current account deficit and inflation dynamics. The currency went on to set the record after opening at 68.87 a dollar at the interbank foreign exchange market against the previous 68.61.

On November 24, 2016, the rupee last recorded a low of 68.8650 per dollar.