NEW DELHI, Oct. 9 (Xinhua) -- The Indian rupee Tuesday plummeted further to an all-time low of 74.27 against the U.S. dollar.
"Indian rupee today plunged to a fresh record low of 74.27 against the stronger U.S. dollar during the afternoon trade," a market analyst said.
"In the morning, rupee was trading 18 paise higher but in the afternoon trade that proved short lived and it slipped further," the analyst said.
Last week on Friday, rupee slipped to a low of 74.23 per dollar.
Experts blame collapsing of rupee to rising crude oil prices and higher demand for the U.S. dollars.
The poor performance of Indian currency is being witnessed at a time when International Monetary Fund has predicted a growth rate of 7.3 percent for India in the current year and that of 7.4 percent in 2019.
The Indian currency has been on downward trajectory for quite sometime and is not showing any significant sign of rebound.
