Rupee at 19-month low; down 30 paise in opposition to US greenback

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The rupee plunged by 30 paise to hit a 19-month low of 68.54 in opposition to the US greenback in early commerce immediately on robust month-end greenback demand from importers and banks amid sustained overseas capital outflows.

That is the rupee’s lowest degree in opposition to the dollar since November 29, 2016.

The greenback’s energy in opposition to some currencies abroad weighed on the native unit however the next opening of the home fairness markets capped the losses, merchants mentioned.

Overseas portfolio buyers (FPIs) bought shares price Rs 538.40 crore yesterday, as per provisional information issued by the inventory exchanges.

Yesterday, the rupee misplaced 11 paise to finish at 68.24 in opposition to the US foreign money.

In the meantime, the benchmark BSE Sensex rose by 53.85 factors, or 0.15 per cent, to 35,543.89 in opening commerce immediately.