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Rupee drops 16 paise to end near 1-week low of 67

Rupee drops 16 paise to end near 1-week low of 67.65

Wed June 13 2018


The rupee today slid further by 16 paise to close at near one-week low of 67.65 against the US currency on sustained dollar demand ahead of the key US Federal Reserve’s decision on rate hike.


The domestic currency opened weak at 67.62 per dollar and oscillated between 67.55 and 67.71 during the day amid suspected dollar selling by the central bank.


The rupee had dropped by 7 paise to 67.49 per dollar yesterday.


The rupee opened sharply lower at 67.62 from previous close of 67.49 at the interbank foreign exchange (forex) market due to sustained dollar demand.


It kept descending, weighed down by firm dollar overseas to hit an intra-day low of 67.71 before ending at 67.65, showing a loss of 16 paise, 0.24 per cent.



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