Rupee falls 32 paise to close at all-time low of 81.94 against U.S. dollar
The Hindu
Rupee opened on a positive note at 81.52, then pared all the gains to settle at an all-time low of 81.94 against U.S. dollar, registering a decline of 32 paise over its previous close
The rupee plunged 32 paise to close at an all-time low of 81.94 (provisional) against the US dollar on Thursday amid high volatility as firm crude oil prices weighed on the local unit.
At the interbank foreign exchange market, the local currency opened on a positive note at 81.52, then pared all the gains to settle at an all-time low of 81.94 against the American currency, registering a decline of 32 paise over its previous close.
During the day, the local unit witnessed an intra-day high of 81.51 and a low of 81.94 against the greenback.
On Tuesday, the rupee appreciated by 20 paise to end at 81.62 against the U.S. dollar.
The forex market was closed on Wednesday on account of Dussehra.
"Rupee, after appreciating marginally on Tuesday, is again starting to come under pressure. The dollar strengthened after services PMI and private payrolls numbers from the U.S. came in better than estimates," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Major crosses euro and pound continued to witness selling pressure at higher levels. The focus will be on the European Central Bank (ECB) meeting minutes, Mr. Somaiya said.
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