Forex

Rupee dives 60 paise to 72.21 against US dollar

PTI Mumbai | Updated on February 28, 2020

The Indian rupee plunged by 60 paise to settle at 72.21 (provisional) against the US dollar on Friday, tracking heavy sell-offs in domestic equities and sustained foreign fund outflows.

At the interbank foreign exchange market, the local currency opened at 71.90 to the US dollar. During the day, it hit a low of 72.29.

The domestic unit finally settled at 72.21, down 60 paise over its previous close.

Continuing its downward spiral for the sixth straight session, the 30-share BSE Sensex ended 1,448.37 points, or 3.64 per cent, lower at 38,297.29.

This was the benchmark’s second-worst drop in absolute terms after August 24, 2015, when it had plunged 1,624.51 points.

Similarly, the broader NSE Nifty sank 431.55 points or 3.71 per cent to end at 11,201.75.

Investor sentiment remained fragile amid sustained foreign fund outflows and concerns over the impact of corona virus outbreak on the global economy, traders said.

Published on February 28, 2020

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