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Rupee Crashes By 52 Paise To Breach 67-Level Against Dollar

Foreign fund outflows, strong dollar demand from importers, a lower opening of the domestic equity markets weigh on the rupee

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Rupee crashed by 52 paise to breach the 67-level and traded at 67.15 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market after the American currency soared overseas.

Besides, foreign fund outflows and strong demand from importers, a lower opening of the domestic equity markets also weighed on the rupee, forex dealers said.

The dollar climbed to four-month high against some currencies overseas on the prospect of higher US interest rates with investors betting Donald Trump's huge spending policies.

The rupee on Thursday retreated from two-month high levels due to a strong dollar globally and capital outflows, tumbling by 20 paise to close at 66.63 against the US currency.

Meanwhile, the benchmark BSE Sensex plunged 412.53 points or 1.49 per cent to 27,105.15 in opening trade on Friday.


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rupee dollar demonetization sensex