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BW Businessworld

Rupee Plunges To Historic Low Of 65.72

The rupee tumbled to an all-time intra-day low of 65.72 per dollar on heavy month-end demand of the US currency from importers and banks amid sharp fall in the local equity market.

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It quoted 65.72 at 1200 hours at the Interbank Foreign Exchange (Forex) Market here.

The rupee resumed lower at 65.00 per dollar as against the last closing level of 64.30 per dollar at the Interbank Forex Market and dropped further to a historic low of 65.72 per dollar at 1200 hours. It showed a loss of 142 paise or 2.21 per cent.

Persistent month-end dollar demand from importers, mainly oil-refiners, amid sustained foreign capital outflows from equity market pulled down the rupee value against the dollar, a forex dealer said.

Meanwhile, the benchmark BSE-30 share index Sensex dropped by 415.74 points or 2.24 per cent while quoting 18,142.39 points at 1200 hours.