Mumbai, The rupee fell on a record low against the dollar on Thursday. On Thursday, the rupee declined by 99 paise in the day’s trade, after which the value of one dollar rose to Rs 80.95. This means that soon the price of one dollar can reach 81 rupees. It is believed that due to the international recession and the 0.75 percent hike in interest rates by the Federal Reserve in the US, there has been such a big fall in the value of the rupee.
The effect of the increase in interest rates by the US Federal Reserve was also visible on the stock market. Both the Bombay Stock Exchange and Nifty declined. On Thursday, the BSE index closed at 59,119, down 337 points. Nifty closed 88 points lower at 17,629. Of the 30 stocks on BSE, 18 stocks declined. On the other hand, the dollar weakened by 99 paise to reach Rs 80.95 on Thursday.
