Rupee slides a further 15 paise

BL Internet Desk | Updated on August 30, 2018

The rupee slid by a further 15 paise on Thursday to close at a fresh lifetime low of 70.74 to the dollar due to month-end demand for the US currency from importers and rising crude oil prices.

Earlier, the rupee resumed lower at 70.64 against the previous closing level of 70.59 a dollar at the interbank foreign exchange market. Later, it fell to a record low of 70.90 in volatile trade in morning deals.

The rupee pared some of the losses to trade near 70.69 in afternoon deals, but slid in the last hour of trade to close at 70.74, a fall of 15 paise or 0.21 per cent against the US currency.

A stronger dollar in overseas markets and losses in local stocks markets also impacted the rupee sentiment.

Published on August 30, 2018

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