USD/INR clocks fresh record high of 72.41

• The INR slide continues on hawkish Fed expectations, oil rally.
• USD/INR hit a new high of 72.41 and could rise further on panic buying by importers.

The USD/INR pair rose to a fresh record high of 72.41 today as Friday's upbeat payrolls and wage growth number reinforced hawkish Fed rate hike expectations.

At press time, the currency pair is changing hands at 62.40 and could continue to rise further as the continuous slide in the INR could trigger panic USD buying by importers.