Though expected a little later, Indian rupee has plunged to its lowest today touching Rs.81 per US dollar, amid gloomy prospects of markets around the world in view of a steep rise in interest rates by the US Federal reserve by 0.75 percentage points, vowing to further hike in the future.
On Thursday, experts expected the Indian rupee to hit 82 levels in a month’s time but it has been precipitated on Friday to Rs. 80.71 and per US dollar by afternoon, it plummeted to Rs.81 level.
In fact, since August, the Indian rupee has been touching Rs.80 level before trying to emerge stronger against the American dollar.