Rupee tanks below 60 mark, down 37 p Vs dollar in early trade

Posted By: Staff
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Rupee tanks below 60 mark, down 37 p Vs dollar in trade
The rupee today fell by 37 paise to again slip below the 60 mark to 60.03 in early trade at the Interbank Foreign Exchange market, on heavy dollar demand tracking strengthening of the US currency overseas.

This is the first time since June 27 that the domestic currency has fallen below the 60 level. Rupee had touched an all-time low of 60.76 against the dollar on June 26. Forex dealers said besides dollar gaining against other currencies to trade at nearly one-month high in the global markets on strong economic data, a lower opening in the domestic equity market also, put pressure on the rupee.

The rupee had depreciated by 14 paise to close at 59.66 against the dollar yesterday on defence-related dollar demand losses in the local stock market. Meanwhile, the BSE benchmark Sensex fell by 211.54 points, or 1.09 per cent, to 19,252.19 in early trade today.


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