Rupee plunges by 66 paise against dollar, ends at 64.84

Xavier Trudeau
Mai 19, 2017

The rupee opened at 64.35 to the dollar, significantly weaker than analysts' expectations as a rising risk-off sentiment globally triggered a slide in emerging market assets. It hovered in a range of 64.50 and 64.32 before quoting at 64.48, down 33 paise at 2.40 pm local time.

At 12.52 IST, the rupee was trading at 64.35, 20 paise lower than its previous close of 64.15.

While, stocks enjoyed their record breaking streak for the third straight session today.

The dollar wallowed near six-month lows against a basket of major currencies on Thursday as the United States political crisis appeared to deepen, threatening to delay efforts by President Donald Trump to implement his economic stimulus plans. Following are the interbank forex and RBI rates: (In Rs per Unit) Unit Interbank RBI Reference US Dollar 64.84/85 US Dollar Rs 64.3414 Pound Sterling 84.49/51 Euro Rs 71.6214 Euro 72.15/17 Japanese Yen (100) 58.54/56.

It was widely reported that President Trump shared highly sensitive information with the Russia Ambassador at a recent meeting at the White House putting further pressure on United States dollars.

"Meanwhile, India's benchmark equity indices - Sensex and Nifty - were around 0.3 percent lower at 30,544.10 and 9,469.25, respectively".

The Dollar index, a measure of the value of the U.S. dollar relative to a basket of foreign currencies, fell 0.10 percent to trade at 97.47.

In forward market today, premium for dollar declined due to fresh receivings from exporters.

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