Forex

Rupee tumbles 50 paise against US dollar

PTI Mumbai | Updated on January 15, 2018 Published on November 15, 2016

The rupee lost 50 paise to end at 67.75 in today's trade as the American currency strengthened overseas amid a lower domestic equity market.

Forex dealers said continued demand for the American unit from importers and the greenback’s persistent gains against other Asian currencies since Donald Trump’s unexpected win in the US presidential election on November 8, putting pressure on the rupee.

The rupee opened at 67.53 and traded between 67.82 and 67.53 in intra-day deals.

On Friday, the rupee had lost 62 paise to end at over three—month low level of 67.25 against the American currency on fears of capital outflows amid resurgent dollar overseas.

Forex market remained closed yesterday on account of ‘Guru Nanak Jayanti’

Meanwhile, the benchmark BSE Sensex plunged over 500 points to end at 26,304.63.

Published on November 15, 2016

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