₹ falls to a fresh low

 The rupee fell to a fresh low at 79.60 per US dollars. It is moving to the 80 per dollar mark in the near term. 

The US dollar index rose to a high of 108.56 which is the highest level since August 8, 2002. This index is a gauge of US dollars against 6 major currencies.

INR has touched the low against USD due to some global factors. The rush in the dollar index is caused by a global rush to the safety of US currency amid fears of slowing economic growth worldwide.

The strengthening dollar worsens the current account deficit as the country is a major importer of crude oil and denominated in US currency. 

Huge outflows of overseas investment has further affected the current account deficit . Foreign portfolio investors have sold a net $30.23 billion of Indian assets which is more than 3 times the outflow of 2008 finnancial crisis. 

The other factor was the decline of the domestic equities which dragged the rupee down.