Rupee falls to all-time low against US dollar
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
The rupee tumbled by 12 paise to a fresh three-week low of 68.11 against the US dollar in late morning trade on Tuesday on sustained demand for the American currency from importers and banks amid lower local equities.
The rupee opened a tad higher against yesterday’s closing level of 67.99 at the inter-bank foreign exchange market here.
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Later, the domestic unit hovered between 67.98 and 68.12 per dollar during morning deals. It was quoting at 68.11 at 1030 hrs.
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Persistent foreign capital outflows are looming over the rupee, a dealer said.
Meanwhile, the US dollar was mostly mixed against other currencies in early Asian trade. It fell against the yen and Swiss franc after US President Donald Trump’s threat of additional tariffs on China raised worries about an escalating trade war between the world’s two largest economies.
The 30-share BSE Sensex was trading lower by 160.26 points or 0.45 per cent at 35,388.00 at 1045 hrs.
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