Published on 8/11/2017 1:02:13 PM | Source: Dion Global Solutions Ltd.
Rupee extends fall against US dollar
The Indian Rupee continued losing momentum against the US dollar on Wednesday due to strong buying of American currency by banks and importers amid sustained outflows by foreign portfolio investors. Adding to it, rise in crude oil prices due to political upheaval in Saudi Arabia also boosted fresh demand for dollar.
At the Interbank Foreign Exchange Market, the local currency was down by 4 paise at 65.23 per dollar against a previous close of 65.19 per dollar. It touched the intra-day low of Rs 65.34 after opening at 65.29 (at 12:10 hours). However, firmness in the equity market failed to lift sentiment at the local forex trade. The BSE SENSEX was trading at 33428.11, up by 57.35 points or by 0.17 per cent, and the NSE Nifty was at 10355.95, up by 5.8 points or by 0.06 per cent.
