For the first time in history, the Indian Rupee hit a record low breaching the Rs 70 mark against US dollar on Tuesday. The currency had recovered from an all-time low of 69.91 and strengthened by 23 paise to 69.68 against the US dollar in opening trade, it, however, plunged quickly. Although it recovered quickly to 69.97 at the interbank foreign exchange market, the drop left everyone talking online. ALSO READ | Markets LIVE Updates: Sensex rebounds after Rupee crash While some were quite sceptical about how the domestic currency would fair in the ongoing Turkish currency turmoil, others couldn't stop taking a jibe at the government and cracking jokes. That's more of a psychological shock than an actual one. Still, government should adopt measures to bring it back in the 60-65 range. — Peepak19 (@peepaknineteen) August 14, 2018 Forty to a dollar seems like a distant dream today. But I recall paying Rs 39 to a dollar in 2007-8, during the first term of MMS rule.#Rupee — Vivek Sengupta (@vsengupta) August 14, 2018 #Rupee crosses 70 to a dollar today. 75 on 75th anniversary of independence seems like a nice round number forecast !#Exchange #Inflation #forexsignals — SP Shukla (@Prakashukla) August 13, 2018 Rupee at 70. Have always been saying that the Rupee symbol is bad Vaasthu :) — Vasu (@vasudevan_k) August 14, 2018 #Rupee Welcome to the 70's. Hey, I'm talking about the rupee here! — Allen Pais (@allenbond) August 14, 2018 Rs.70 to the $ . ‘Sattar’k ho jaao! — Jaaved Jaaferi (@jaavedjaaferi) August 14, 2018 #Rupee has crossed 70, soon its going to touch 71.Ahh rupee is celebrating 71st #IndependenceDay😍 ..Salute to it's patritosm.♥️ — Tweetera🐦 (@DoctorrSays) August 14, 2018 Probably the Indian rupee is chasing the INDEPENDENCE YEAR mark!?!#RBI #rupeefallsagain — Abhishek Tiwari (@abhi7863) August 14, 2018 1 Dollar = 70 Rs/- 1 Euro = 80 Rs/- Looks like DOLLAR and EURO are taking revenge on India for naming underwear brands on their names 🙂 — Pankaj Baid (@pankajbaid17) August 13, 2018 The only high point for #Rupee right now. pic.twitter.com/XB2cz7FQcw — East India Comedy (@EastIndiaComedy) August 14, 2018 Finally the #Rupee has moved off the 69 position - it was a national embarrassment! 😲😰 This is a victory for conservatives and those valuing decency. — Akash Banerjee (@akashbanerjee) August 14, 2018 #Rupee Rupee has crossed Seventy - time to send it to Marg Darshak Mandal. — RKHURIA (@rkhuria) August 14, 2018 Rupee breaches 70/$-mark, touches an all-time low of 70.08. NRIs right now. #Rupee #HappyIndependenceDay2018 pic.twitter.com/WwOmqAdzz4 — Professor Strange (@sureshkumar87) August 14, 2018 Indians seeing Rupee fall against Dollar everyday pic.twitter.com/bk6t3SY5zZ— Pakchikpak Raja Babu (@HaramiParindey) August 14, 2018 Latest data, however, showed that retail inflation fell to 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review. In the last two reviews, the RBI had raised the key repo rate by 0.25 per cent each on inflationary concerns. The next bi-monthly policy is to be unveiled on October 5.
