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Rupee slumps 33 paise to close at record low of 74

Rupee slumps 33 paise to close at record low of 74.39

Tue Oct 09 2018

 

The rupee fell 33 paise on Tuesday to finish at a fresh lifetime low of 74.39 against the US dollar on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

 

At the Interbank Foreign Exchange (Forex), the rupee made a cautious recovery of 18 paise to 73.88 against the US dollar in early trade on fresh selling of the American currency by banks and exporters.

 

However, the domestic currency failed to sustain the momentum after Brent crude breached the USD 84 per-barrel-mark again and the US dollar strengthened overseas.

 

Falling for the sixth straight sessions, it finally closed at 74.39 against the US dollar, down by 33 paise.

 

Source: Hindu business line.

Technical Research
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Tuesday, December 04, 2018
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