Rupee drops below 70 per dollar for the first time

The rupee erased early gains to hit an all-time low of 70.1 per dollar on Tuesday, as concerns about Turkey’s economic woes persisted.

The rupee was last at 69.99 to the dollar, compared with its previous close of 69.95 per dollar.

The 10-year benchmark bond yield inched up to 7.82 percent after staying muted in early trade.