Home BUSINESS Rupee Slides 16 Paise To 68.96 Against US Dollar

Rupee Slides 16 Paise To 68.96 Against US Dollar

1 min read

Mumbai: Extending losses for the second session, the rupee weakened by 16 paise to trade at 68.96 against the US dollar in early trade on Tuesday on sustained capital outflows amid strengthening of the American currency overseas. Forex dealers said apart from heavy demand for the US currency from importers, persistent outflows by foreign funds and the dollar’s strength against some other currencies overseas, political uncertainty in Germany also weighed on the rupee.

Yesterday, the rupee ended lower by 34 paise to end at a near five-year low of 68.80 against the buoyant US dollar in the midst of weak global trends and concerns on the macro economic front. Dealers said a higher opening of the equity market capped the fall. Meanwhile, the benchmark BSE Sensex was trading 79.80 points higher, or 0.22 per cent, at 35,344.21 in the opening trade.

Load More Related Articles
Load More By The Lifeline Today

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Intel Releases New ‘Xeon’ Chip For Entry-Level Workstations

San Francisco: Intel on Friday released new “Xeon E-2100” 6-core processor for…