Indian currency, rupee, crashed 27 paise to hit a new lifetime low of 86.31 against the US dollar in the morning trading hours on Monday, January 13, dragged down by a robust American currency amid volatile global cues. The rupee’s slide show was also accentuated by a record surge in crude oil prices, sustained outflow of foreign capital from India and a negative trend in domestic equity markets, market participants said. The fall in rupee exchange value will be good news for expat Indians, especially those who work in the Gulf region who regularly make remittances to their family members back home, as they can get more bucks for every dollar. At the interbank foreign exchange, the rupee opened at 86.12 and fell to the historic low level of 86.31 against the greenback in initial deals, registering a steep loss of 27 paise from its previous close. On Friday, the rupee declined 18 paise to settle at 86.04 against the US dollar. Forex traders said the dollar strengthened on better-than-expected job growth in the US market, which also fuelled the benchmark treasury yields amid expectations of a slower interest rate cut by the Federal Reserve. US employers added 256,000 jobs last month, […]