Diabytes
Rupee value today News
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Forex traders said, besides the US-China trade concerns, foreign fund outflows, heavy selling in domestic equities and rising crude oil prices also kept pressure on the Indian rupee.
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When 'international developments' were favourable, the NDA government took credit for something it didn't do. Now that situation is unfavourable, it doesn't want to take the blame.
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The rupee made a tentative recovery of 16 paise at 64.68 against the dollar at the start of the session today after banks and exporters hit the sale button for the US currency.
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The domestic currency has been Asia's best performer this year and its rising clout against the US dollar has been aided by a hands-off approach by the RBI.
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Robust foreign fund inflows supported the rupee but weakness in domestic equities in early trade capped the gains.
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The rupee weakened by 24 paise to trade at a 30-month low of 68.62 against the dollar in early trade today on sustained foreign fund outflows amid increased demand for the US currency from importers.
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The rupee again broke below the 68-mark by depreciating 28 paise to trade at 68.26.
Dealers also attributed the rupee's fall to fresh demand for the US currency from importers and banks and early losses in domestic stock markets.
The rupee had closed with a gain of 18 paise against the US dollar at 66.49 in the previous session.
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