Re hits new all-time low of 67.42, plunges 118 paise vs USD

Continuing its free-fall, the rupee today breached 67-mark against the dollar by falling 118 paise to trade at a life-time low of 67.42 on strong demand for the US currency amid rising concerns over fiscal burden after the passage of the Food Bill.
At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 67.06 a dollar from its previous close of 66.24 and breached 67-mark to trade at a fresh low of 67.42, down by 118 paise, or almost 1.8 per cent.
Forex dealers said besides strong month-end demand for the American currency from importers, concerns related to subsidy burden after the passage of Food Security Bill and capital outflows mainly weighed on the domestic currency.

Further, rising crude prices in the global market also put pressure on the rupee, they said.
The rupee had recorded a steep fall of 194 paise, or 3.02 per cent to close at record low of 66.24 against the dollar in the previous session.
Meanwhile, the BSE Sensex fell further by 229.66 points, or 1.28 per cent, to 17,738.42 points in early trade.
Global markets were also jittery after reports said that simmering tensions in Syria may affect geopolitical balance.