Rupee in Free Fall, Slides 21 Paise to New 9-Month Low
Extending losses for the fourth session, the rupee weakened by 21 paise to trade at fresh 9-month low of 68.46 against the US dollar in early trade on Wednesday.
Representative image. (Photo Credit: Reuters)
Mumbai: Extending losses for the fourth session, the rupee weakened by 21 paise to trade at fresh 9-month low of 68.46 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on sustained capital outflows amid the American currency strengthening overseas.
Forex dealers said apart from heavy demand for the American currency from importers, persistent outflows by foreign funds and the dollar's strength against other currencies overseas mainly weighed on the domestic unit.
The rupee ended lower by 9 paise yesterday at 68.25 -- its lowest in nine months -- on heightened capital outflows.
Dealers said, however, a higher opening of the equity market, capped the fall.
Meanwhile, the benchmark BSE Sensex was trading higher 169.71 points, or 0.65 per cent, at 26,130.49 in early trade.
|Tata Global Bev||193.85||+15.10||+8.45|
|Bank of Baroda||147.15||+4.90||+3.44|
|Power Grid Corp||220.70||-2.05||-0.92|
Recommended For You
- Independence Day 2017: Top 5 Bikes That Charted Their Way Into India’s History
- Riya Sen To Marry Long-Time Boyfriend Shivam Tewari by August End: Reports
- This Model's Journey is a Step Towards Embracing Curves In Fashion Industry
- Akshay Kumar Thanks Hrithik Roshan, Fans For Toilet Ek Prem Katha's Success
- Janmashtami 2017: Celebrate The Day With Lord Krishna Inspired Playlist