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1-min read

Rupee Drops 17 Paise Against US Dollar

Dealers attributed the rupee's fall to increased demand for the US currency from importers and foreign fund outflows. However, dollar's weakness against some currencies overseas capped the losses.

PTI

Updated:May 18, 2018, 9:43 AM IST
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Rupee Drops 17 Paise Against US Dollar
File photo of Indian rupee.(Reuters)
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Mumbai: The rupee weakened by 17 paise to 67.87 against the US dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.

Crude oil's breach of the USD 80 per barrel-mark in global market and a lower opening of the domestic equity market too weighed on the investor sentiment here.

Dealers attributed the rupee's fall to increased demand for the US currency from importers and foreign fund outflows. However, dollar's weakness against some currencies overseas capped the losses.

Yesterday, the rupee had managed to hold its ground against the US currency, gaining by 10 paise to end at 67.70 per dollar.

Meanwhile, the benchmark BSE Sensex fell by 125.10 points, or 0.35 per cent, to 35,024.02 in the opening trade today.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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