Comments
The rupee onWednesday nosedived 52 paise to hit a 14-month low of 66.90 against the US dollar, the third-biggest single-day fall for the domestic currency this year, amid surging crude prices coupled with headwinds on the macroeconomic front in the form of widening trade deficit. This was the lowest closing for the rupee since February 22, 2017. After resuming sharply lower at 66.47 from the overnight close of 66.38 at the inter-bank foreign exchange (forex) market, the rupee rapidly fell to touch a fresh intra-day low of 66.91 in late afternoon deals before concluding at 66.90, revealing a steep loss of 52 paise, or 0.78 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.