Rupee at life-time low vs dollar

The rupee took a hard 43 paise knock to close belowthe 69 level for the first time at a historic lowof 69.05 against the US currency as upbeat comments on the US economy by the Federal Reserve Chairman drove the greenback to one-year high levels against global currencies. Extending its overnight bearish undertone, the rupee resumed substantially lower at 68.72 at the interbank forex market on heavy demand for the American currency from importers and local banks. The rupee later took a deep slide to hit a session-low of 69.07 in late afternoon trade before ending at 69.05, showing a sharp fall of 43 paise, or 0.63 per cent. This is the biggest single-day fall since May 29 and goes hand-inhand with a stronger US dollar.