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Strong dollar pulls rupee down to 65

Strong dollar pulls rupee down to 65.27

Fri Oct 06 2017


The rupee depreciated 13 paise to 65.27 against the dollar today on hopes of progress on US tax reforms.


Congressional Republicans had moved to hasten an overhaul of the US tax code on Thursday, with the Republican-controlled House of Representatives approving a fiscal 2018 spending blueprint to help advance an eventual tax Bill.


According to forex dealers, the rupee was hit due to increased demand for dollar from banks and importers. Also, the dollar's strength against other currencies overseas weighed on the domestic unit.


Yesterday, the local currency had closed lower by 13 paise at 65.14 due to fresh spell of dollar demand from importers.


Meanwhile, the benchmark Sensex rose 130.10 points or 0.41 per cent to 31,722.13 in early trade.



Wednesday, September 19, 2018
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