Plunging to its fresh two-year low against the US
dollar, the rupee on Tuesday Dec 08,2015 lost 11 paise at 66.84 on consistent demand
for the American currency from banks and importers.
Extreme volatility in domestic equities as well as expectations that
the Federal Reserve is on track to raise interest rates for the first
time since 2006 predominantly impacted the rupee sentiment.
The domestic currency opened substantially lower at
66.85 per dollar from overnight closing level of 66.73 at the Interbank
Foreign Exchange due to strong dollar demand in the wake of sustained
foreign capital outflows.
However, the home currency
recouped its early losses on fresh dollar selling and touched session’s
high of 66.71 before retreating back to conclude at a two-year low of
66.84, revealing a fall of 11 paise, or 0.16 per cent.
It had last ended at 67.07 on September 4, 2013
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