Rupee hits new low of 74.27, plunges 21 paise against USD
Business | October 09, 2018 13:45 ISTRupee turned weak and slipped to trade at a fresh lifetime low of 74.27, showing a fall of 21 paise over its Monday's close of 74.06.
Rupee turned weak and slipped to trade at a fresh lifetime low of 74.27, showing a fall of 21 paise over its Monday's close of 74.06.
At the interbank foreign exchange market, the rupee opened lower at 70.32 a dollar against 70.10 previously and dropped further to a new low of 70.52 in late morning deals, down by 42 paise.
She also said farmers' distress will be compounded as the rupee fell further on Thursday to a new record low beyond Rs 70.20 against the dollar but recovered somewhat later.
Increased demand for the US currency from importers and banks amid fresh foreign fund outflows mainly hit the rupee sentiment, forex traders said.
The rupee has lost 25 paise, or 0.39 per cent, in the last two days. It hovered in a range of 64.13 and 64.34 per dollar during the day.
The rupee has crashed to nearly 39-month low of 68.86, plummeting by another 30 paise against the US dollar in early trade on Thursday.
New Delhi: Expressing concern over successive depreciation in the value of the Indian rupee, Prime Minister Manmohan Singh Friday said this was an outcome of external developments and promised measures internally to address the situation.In
Mumbai, Dec 19: Snapping its two-session gaining string, the rupee today settled down by 16 paise at 52.86/87 against the dollar due to fresh demand for the US currency from importers amid weak local stocks
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