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Rupee plunges 24 paise to 65

Rupee plunges 24 paise to 65.38/$

Fri Oct 06 2017

 

Falling for the second session, the rupee on Friday depreciated by another 24 paise to end at 65.38 against the US dollar on persistent demand for the American currency from importers and banks.

 

Resurgent dollar overseas alongside continued capital outflows predominantly weighed on the local forex market, though a spectacular rally in the equity markets largely restricted the intensity of the downtrend. Robust demand for the American currency from domestic oil firms and foreign banks also dampened rupee trade.

 

Source: http://www.thehindubusinessline.com/

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