Rupee hits all-time low of 80 against US dollar in early trade

The Indian Rupee has sunk to a record low of 80 per US Dollar in early trade.

The Indian Rupee on Tuesday, July 19, sunk to a record low of 80 per US Dollar in early trade for the second day in a row, reported news agency ANI.

On Monday, it crossed the 80-per-dollar-mark but recovered a little to close just below 80 at 79.97.

The Union government on Monday admitted in Parliament that the value of the Indian rupee against the dollar has fallen by Rs 16.08 (25.39 per cent) in the last eight years.

The finance ministry informed Parliament that in 2014, as per the Reserve Bank of India (RBI), the exchange rate was Rs 63.33 to a dollar. By July 11, 2022, it had fallen to Rs 79.41.

(This is a developing story and will be updated as more updates come in.)