As rupee sinks to historic low, Modi govt blames 'external factors'

Rupee plunges against dollar tracking broader weakness in other emerging market currencies

A customer hands rupee notes to an attendant at a fuel station in Mumbai, August 13, 2018.

The rupee settled almost unchanged on Tuesday, after weakening to a fresh all-time low of 71.10 against the United States dollar amid prevailing weakness in emerging market currencies.

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Koepka has only one non-major PGA Tour title on his resume, but Australia's Scott said that was not the worst thing in the world. Woods and Koepka played nine holes of a practice round Wednesday, and the 14-time major champion knew what he was up against.

Kapil Sibal, former HRD minister, "congratulated" the prime minister for doing what the Congress could not for 60 years with regard to the rupee value.

In India, on Monday morning, increased demand for U.S. currency from importers and banks amid fresh foreign fund outflows hit the rupee sentiment, according to forex traders.

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Nervous investors were keeping an eye on developments in Ankara after yesterday's bloodletting that saw the lira hit record lows against the dollar and euro, and equity markets go into freefall on concerns Turkey's financial crisis could spread globally. There is "nothing at this stage to worry", Economic Affairs Secretary Subhash Chandra Garg said. This has come on the back of the rupee's weakest ever loss of Rs. 1.09 against the USA dollar on Monday. However, according to an Economic Times report, Turkish lira, Russian ruble, Argentine peso have significantly weakened against the dollar.

Asian currencies except Japanese yen trade on a weaker footing. With that, the rupee fell below the 70 level against the USA dollar for the first time ever. Investors preferred safe-havens such as the U.S. dollar and the Japanese yen after a plunge in the Turkish lira pulled down all emerging market currencies.

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In a ray of hope, however, last month retail inflation fell to a nine-month low of 4.17% on declining vegetable prices.

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