Rupee tumbles 42 paise against US dollar
Nov 15, 2016, 10:56 IST
On Friday, the rupee had lost 62 paise to end at over three-month low level of 67.25 against the American currency on fears of capital outflows amid resurgent dollar overseas
Mumbai: The rupee was trading lower by 42 paise at 67.67 against the US dollar in early trade today as the American currency strengthened overseas amid a lower opening of the domestic equity market.
Forex dealers said continued demand for the American unit from importers and the greenback's persistent gains against other Asian currencies since Donald Trump's unexpected win in the US presidential election on November 8, putting pressure on the rupee.
On Friday, the rupee had lost 62 paise to end at over three-month low level of 67.25 against the American currency on fears of capital outflows amid resurgent dollar overseas.
Forex market remained closed yesterday on account of 'Guru Nanak Jayanti'. Meanwhile, the benchmark BSE Sensex plunged by 344.27 points, or 1.28 per cent, to 26,474.55 in early trade today.
PTI
More from section
Advertisement
Top Stories
Amid fears of economic fallout and a broader trade war with multiple countries, American President Donald Trump on Thursday postponed 25% tariffs on many imports from Mexico and some parts from Canada for a month. Even though the White House insists that the tariffs imposed are to stop the smuggling of fentanyl, Trump's tax proposal has wounded the decades-long partnership between America and its allies - Mexico and Canada.
Andhra Pradesh
Telangana
Politics
Entertainment
Crime
Video
