Rupee falls 47 paise vs dollar

PTI Mumbai | Updated on September 18, 2018

The rupee, on Tuesday, slid a further 47 paise to settle at a record low of 72.98 against the US currency due to surging crude oil prices and escalating trade war worries.

At the inter-bank forex market, the rupee opened weak at 72.51 against Monday’s close of 72.55 on sustained dollar demand However, overcoming the initial volatility, the local unit rebounded to hit a session-high of 72.35 before taking a big reversal.

Reeling under an unprecedented speculative sell-off, the rupee plunged sharply to hit an all-time low of 72.99 before ending at a record low of 72.98, showing a steep loss of 47 paise, or 0.65 per cent.

Published on September 18, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like