The Indian rupee fell to the level of 80 rupees per dollar for the first time on Tuesday, July 19. This is the all-time low of the rupee. As the rupee was witnessing a steady decline for the last few days, after that the apprehension almost turned into confidence that the rupee would cross $80. The rupee had closed at Rs 79.97 per dollar in the previous session. In comparison, today it opened at a price of $ 79.98 per rupee. However, soon after that it fell to the level of 80.05 rupees per dollar.
After touching the level of 80.05, the rupee was trading at Rs 79.93/94 per dollar. During this time, the US dollar was registering a little above the low level of the last one week. If we talk about the previous session, the rupee on Monday declined by 16 paise to 79.98 against the US currency in the interbank foreign exchange market to close at 79.98 per dollar. During trading, it went down to a psychological low of Rs 80 per dollar for a short time. Traders said the fall in the rupee was due to rise in crude oil prices and continued outflow of foreign capital from the market.