Mumbai, October 9: The Indian rupee on Tuesday has fallen further against the US dollar. The rupee stands at 74.24 against the US dollar after opening at 73.87 per dollar. Yesterday, the rupee closed at 74.07 after it opened the day's trade at the Inter-Bank Foreign Exchange Market at 73.96 against the dollar The Indian currency reached its new low against the dollar after the Reserve Bank of India announced no change in the repo rate on October 5.
The Sensex also slipped down today. The BSE Sensex fell 189 points to an intra-day low of 34,285.06 points, while the NSE Nifty plunged to a low of 10,279.35 points intra-day. Yesterday also, the BSE Sensex dwindled 150 points, and NSE Nifty plunged below the 10,300-level in the early trade.
The RBI in a surprising move on Friday, kept the repo rate unchanged at 6.50 per cent in its monetary policy. The six-member monetary policy committee (MPC) has announced the fourth bi-monthly policy statement for FY19 amid concerns of rising inflation, falling current account deficit, depreciating rupee and liquidity crisis gripping the financial markets. However, the policy impacted negatively on the currency as the Rupee fell to 74 per US dollar for the first time ever after the policy was announced.