Rupee tanks, cracks 67-mark vs USD
Synopsis
Rupee crashed by 52 paise to breach the 67-level he dollar climbed to four-month high against some currencies
Rupee crashed by 52 paise to breach the 67-level and traded at 67.15 against the US dollar in early trade today at the Interbank Foreign Exchange market after the American currency soared overseas.
Besides, foreign fund outflows and strong demand from importers, a lower opening of the domestic equity markets also weighed on the rupee, forex dealers said.
The dollar climbed to four-month high against some currencies overseas on the prospect of higher US interest rates with investors betting Donald Trump's huge spending policies.
The rupee yesterday retreated from two-month high levels due to a strong dollar globally and capital outflows, tumbling by 20 paise to close at 66.63 against the US currency.
Meanwhile, the benchmark BSE Sensex plunged 412.53 points or 1.49 percent to 27,105.15 in opening trade today.