The Indian Rupee on Monday May 16,2016 continued its falling streak against the US
currency for the third day, slipping by another three paise to hit
2-month closing low of 66.80 on persistent dollar demand from banks and
importers on the back of higher greenback in the overseas market.
Rise in crude oil prices also affected the rupee-value against the dollar, a forex dealer said.
The Indian Rupee resumed lower at 66.90 as against the last weekend’s level of
66.77 per dollar at the Interbank Foreign Exchange (Forex) Market and
moved down to 66.91 on initial heavy dollar demand from banks.
However, it trimmed its initial losses and recovered 66.7225 per dollar
before ending at 2—month closing low at 66.80, still showing a loss of 3
paise or 0.04 per cent.
The Indian Rupee has lost 24 paise or 0.36 per cent in the last three trading sessions.
The Indian Rupee had last ended at 67.22 per dollar on March 16, 2016.
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