The rupee today crashed below the key 66 level to settle at a 13-month low of 66.12 against the US currency, hit by a resurgent dollar, firming crude prices and a more hawkish tone of the Reserve Bank.
Extending its slide for a fifth day, the domestic currency took a hit of 32 paise to close at more than one-year low as the RBI’s surprised hawkish tone kept overall sentiment bearish.
This is the lowest closing level of the rupee since March 10, 2017, when it had settled at 66.60 against the US dollar.
The rupee has dropped by more than 1 per cent in April and by 3.52 per cent this year so far.