Indian Rupee hit record low of 69.09 per US dollar

• INR hit a fresh lifetime low of $69.09. 
• The sharp drop in Yuan - the regional anchor, has likely pushed INR lower. 

The Indian Rupee (INR) fell to record low of $69.09 on Thursday, possibly due to a sharp decline the Chinese Yuan- a regional anchor and due to rising oil prices. 

At press time, the USD/INR pair is trading at $68.95. 

The Chinese Yuan (CNY) has dropped close to 4 percent in the last 14 days and is likely pulling INR and other Asian currencies lower with it. Further, a persistent dollar demand from importers, mainly oil refiners, is likely adding to the bearish pressure around the Indian currency.