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Rediff.com  » Business » Rupee tumbles 42 paise against US dollar

Rupee tumbles 42 paise against US dollar

November 15, 2016 11:24 IST

Continued demand for the American unit from importers and the greenback's persistent gains against other Asian currencies put pressure on the rupee

The rupee was trading lower by 42 paise at 67.67 against the US dollar in early trade, on Tuesday, 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'.

Photograph: PTI Photo.

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