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Amidst the mayhem in the equity markets and heightened global currency volatility, the rupee on Tuesday took a hefty knock, falling 17 paise to end at a fresh seven-week low of 64.24 against the US dollar ahead of the RBI monetary policy on Wednesday.
Frantic dollar demand from importers and banks in the midst of fresh foreign
fund outflows predominantly weighed on the forex sentiment.The home currency has depreciated by 66 paise in the last four days
Yesterday, the rupee had ended with a mere fall of one paisa at Rs 64.07 against the American currency.
Meanwhile, t he S&P BSE Sensex tanked 561.22 points to a one-month low of 34,195.94 owing to a meltdown in global markets.
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