Rupee falls below 42 against the US Dollar

The Indian Rupee fell to a one-year low of 42.14, due to a heavy demand of the greenback from oil companies. The crude oil prices have already touched $125 a barrel. According to market sources, there is a lack of supply of the Dollar in the past couple of weeks.

Banks and other companies have already begun buying dollars on concerns about a possible domestic slowdown. According to financial experts, the Rupee may fall to 42.50 - 42.75 over the next few weeks.