Rupee at 19-mth Low; Down 30 Paise Against US Dollar
The rupee plunged by 30 paise to hit a 19-month low of 68.54 against the US dollar in early trade today on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.
Mumbai, Jun 27 (PTI) The rupee plunged by 30 paise to hit a 19-month low of 68.54 against the US dollar in early trade today on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.
This is the rupee's lowest level against the greenback since November 29, 2016.
The dollar's strength against some currencies overseas weighed on the local unit but a higher opening of the domestic equity markets capped the losses, traders said.
Foreign portfolio investors (FPIs) sold shares worth Rs 538.40 crore yesterday, as per provisional data issued by the stock exchanges.
Yesterday, the rupee lost 11 paise to end at 68.24 against the US currency.
Meanwhile, the benchmark BSE Sensex rose by 53.85 points, or 0.15 per cent, to 35,543.89 in opening trade today.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)