Forex

Rupee dips to two-month low

PTI Mumbai | Updated on January 20, 2018 Published on May 16, 2016

rupee

The rupee on Monday continued its falling streak against the US currency, slipping by three paise to hit a two-month closing low of 66.80 on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market. Rise in crude oil prices also affected the rupee-value.

The rupee resumed lower at 66.90 as against the last weekend’s level of 66.77 and moved down to 66.91 on initial heavy dollar demand from banks. However, it trimmed its initial losses before ending at a two-month closing low at 66.80.

Published on May 16, 2016
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