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Rupee Hits 4-month Low Against Dollar, Drops 31 Paise

Dealers said early losses in domestic equity markets and unabated foreign fund outflows weighed on the rupee.

PTI

Updated:September 22, 2017, 10:40 AM IST
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Rupee Hits 4-month Low Against Dollar, Drops 31 Paise
Image for representation.
Mumbai: The rupee today dropped by 31 paise to a four-month low level of 65.12 against the US dollar on frenetic dollar demand from importers and banks.

Dealers said early losses in domestic equity markets and unabated foreign fund outflows weighed on the rupee.

On Thursday, the rupee plummeted by a whopping 54 paise to end at 64.81 a dollar, its weakest level in over two-and-half months after the US Federal Reserve left the door open for a rate hike in December.

The benchmark BSE Sensex drifted further lower by 231.79 points, or 0.72 per cent, to 32,138.25 in early trade on Friday.

(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)
| Edited by: Mayur Borah
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