Rupee crosses 74 for first time vs dollar as RBI holds rates
- 6 years ago
The Indian rupee Friday crashed below the 74-level against the US dollar for the first time ever after the Reserve Bank kept its key policy rate unchanged. The domestic currency was quoted 55 paise lower at 74.20 against the dollar soon after the RBI announced its monetary policy. Investors remained concerned over sustained foreign capital outflows and fears of widening current account deficit in the wake of soaring crude oil prices.