STOCK MARKET BSE NSE

Rupee falls to fresh 16-month low, drops 25 paise against dollar

The greenback strengthened against most global currencies as investors await hints on the pace of further US monetary tightening amid sustained capital outflows, forex dealers said.

Published: 23rd May 2018 10:01 AM  |   Last Updated: 23rd May 2018 10:01 AM   |  A+A-

A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. (Photo | Reuters)

Image used for representational purpose only (File Photo | Reuters)

By PTI

MUMBAI:  The rupee declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in early trade today ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.

The greenback strengthened against most global currencies as investors await hints on the pace of further US monetary tightening amid sustained capital outflows, forex dealers said.

Weakness in the domestic stock market and demand for the US currency from importers also weighed on the rupee, they added.

Yesterday, the rupee had gained 8 paise to close at 68.04 against the US dollar on fresh selling of the American currency by banks and exporters.

Meanwhile, the benchmark BSE Sensex fell by 30.57 points, 0.08 per cent, to in early trade today.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp