Rupee at 19-month low; down 30 paise towards US greenback

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

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That is the rupee’s lowest stage towards the dollar since November 29, 2016.

The greenback’s power towards some currencies abroad weighed on the native unit however a better opening of the home fairness markets capped the losses, merchants mentioned.

International portfolio traders (FPIs) offered shares value 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 towards 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 at this time.

PTI