Forex

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

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