Rupee Hits 30-month Low Against US Dollar; Touches 68.70

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, February 22, 2016, 12:11 [IST]

The rupee hit a new 30-month low, against the US dollar, on persistent demand for the US currency. Demand from Foreign Portfolio Investors and importers continued to weigh on the rupee.

There was no currency trading on Friday, as the markets were closed. Dealers say there maybe more downside in the currency, depending on how global cues pan out.

Meanwhile, the Sensex was trading at 23,756 points, up 74 points over Friday's close. Markets, including the stock and the global markets are expected to turn volatile ahead of the Union Budget to be unveiled by Finance Minister Arun Jaitley on Feb 29. Check and convert currency here

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