Rupee fell to a historic low, opens at 73.26 against the dollar Connect

The rupee fell to a historic low today. It opened at 73.26 against the dollar. The rupee slipped below the Rs 73 mark for the first time ever and analysts fear that nothing may stem its fall against the rising crude oil prices. This development comes as the RBI is holding a 3-day monetary policy committee meet. The buzz is that the RBI may hike the repo rate by 25 basis points. This will be the third successive hike by the RBI if it does in fact choose to up the rates. Markets will keenly watch if RBI takes measures to stabilise the rupee.