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Rupee Falls 29 Paise To 72.49 Against US Dollar

On account of a strengthened dollar and reports that China had cancelled upcoming trade talks with the US, rupee nosedived by 29 paise to 72.49 today

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The rupee fell sharply by 29 paise to 72.49 against the dollar today as the greenback strengthened overseas. Forex dealers said the greenback's strength against other currencies overseas, after reports that China had cancelled upcoming trade talks with the US, weighed on the Indian rupee.

They said losses in domestic equities in volatile early trade also put pressure on the rupee. The domestic unit had ended 17 paise higher at 72.20 against the dollar Friday on sustained selling of the American currency even as local equities witnessed a high volatility.

The benchmark Sensex dropped 124.14 points, or 0.33 per cent, to 36,717.46 after opening higher at 36,924.72 in the opening trade today. NSE Nifty too plummeted by 65.50 points, or 0.59 per cent, to 11,077.60 after a touching a high of 11,170.15. The fall in both the markets were due to tumbling stocks, weak asian cues and increasing global crude oil prices.

Tags assigned to this article:
US-China trade war rupee fall dollar sensex nifty

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