Rupee slumps 30 paise at 74.06 against USD

Business

08 Oct 2018

Rupee slumps by 30p; closes at record low of 74.06

The rupee slumped by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar today amid strengthening of the greenback and steady capital outflows.

The rupee had opened lower by 14 paise against Friday's close of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee sentiment.

Here are more details.

Rupee value

Indian rupee opened lower at 73.89 a dollar

Indian rupee opened lower at 73.89 a dollar

At the Interbank Foreign Exchange market, the rupee opened lower at 73.89 a dollar against its previous closing of 73.76.

It recovered to a high of 73.76, but failed to sustain the momentum and plunged to 74.10 and finally closed at 74.06, down by 30 paise, marking its fifth straight session of decline.

On Friday, rupee plummeted by 18 paise to end at 73.76.

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