Indian rupee opened at a record low against the US dollar on Monday weighed down by a slump in global equity markets amid concerns of a US recession. Rupee opened 3 paise lower at 83.78 a dollar, its lifetime low level, as against its previous close of 83.75.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, dropped 1.15% to 103.22.
Indian stock market benchmark indices, Sensex and Nifty 50, opened with major cuts on Monday following a slump in Asian markets. Global equities crashed as the weak US labour market report raised concerns of US recession and rattled the equity markets and prompted investors to pile into US Treasuries.
