Rupee drops 15 paise to 64.46

PTI Mumbai | Updated on January 09, 2018 Published on November 30, 2017

10in rupee

Reversing its spectacular three-day rally, the rupee today dropped 15 paise to close at 64.46 a dollar on growing concerns with regard to fiscal deficit and possible extension of crude oil production curb by OPEC.

The Indian currency tumbled to a low of 64.63 per dollar during the intra-day trade before regaining some lost ground.

Overall forex market sentiment remained subdued against the backdrop of a steep jump in crude prices and also due to increase in demand for the American currency from importers.

After trading in a tight range early part of the day, the domestic unit drifted sharply lower to hit an intra-day low of 64.63 in late afternoon deals before ending at 64.46, showing a loss of 15 paise.

Published on November 30, 2017
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