A ticket vendor counts rupee notes in Mumbai. The rupee is one of the currencies analysts expect will under-perform compared to the rest of Asia. (Image Credit: Bloomberg)

Dollar hits record high against Indian rupee

India's currency under pressure since PM Modi announced demonetisation of Rs500 and Rs1,000 notes in a bid to tackle corruption and tax evasion

MUMBAI: The US dollar has hit record high of 68.86 against Indian rupee.

Weakened by the government's shock currency shake-up and a greenback surge on expectations of a rate hike next month, India's rupee has hit the record low against the greenback.

The rupee weakened to a three-year low of 68.86 in mid-day trade, breaching the all-time low of 68.8450 recorded in August 2013.

India's currency has been under...Read more...

Source: gulfnews.com