Rupee hits fresh all-time low of 71.79 against US dollar


Team Udayavani, Sep 5, 2018, 12:34 PM IST

Mumbai: The rupee pared initial gains to drop to a fresh all-time low of 71.79 against the US currency, falling 21 paise in late morning deals on Wednesday on sudden bouts of dollar-buying by banks and importers.

Earlier, the rupee resumed higher at 71.43 against Tuesday’s closing level of 71.58 a dollar at the interbank foreign exchange market here. The Indian unit was trading on a volatile note, moving in a wide range quoting between 71.40 and 71.79 during morning deals.

“Rupee’s speculative demand is causing volatility amid crisis in the emerging market currencies and consistent rise in the crude oil prices,” a dealer said.

The dollar strengthened against a basket of currencies overseas as the US economy continued to exhibit strength amid a lingering threat of escalation in the US-China trade conflict, leading to a fall in the domestic unit.

Meanwhile, the 30-share BSE Sensex is modestly lower by 29.83 points or 0.08 per cent at 38,128.09 at 1100 hrs.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

SC refuses to consider tour operator’s plea seeking inclusion of its name in Haj Organisers list

Udupi: Seven-year-old boy drowns in pond while playing

Saudi Arabia bans travel to 16 countries including India

Chikkaballapur: Man falls while trying to climb wall of Srinivasa Sagara dam

Heavy rain leads to traffic snarls in Gurugram

Puttur: Drug supplier arrested; Goods worth Rs 5.86 lakh seized

Active COVID-19 cases dip to 14,832


Related Articles More

Sensex jumps 311 points in early deals; Nifty gains over 83 points

DLF net debt dips 45 pc to Rs 2,680 cr in FY 22; aims further debt reduction in medium-term

Cooling items in hot demand; refrigerator, AC sales jump: Croma report

Davos set to host WEF Annual Meeting again Ukraine crisis climate change key focus

CNG price hiked by Rs 2 per kg; rates up by Rs 19.60/kg in two months

MUST WATCH

High tech Bust stand Inaguration at Shirva

NEWS BULLETIN 21-05-2022

We will have 2 options

Chikkamagaluru DC statement Namaz at Dattapeeta video goes viral

Kalasa Crime : CCTV Footage found


Latest Additions

PM to lead main International Day of Yoga event at Mysuru

Indian GM Praggnanandhaa secures quarterfinal spot in Chessable Masters

SC refuses to consider tour operator’s plea seeking inclusion of its name in Haj Organisers list

Udupi: Seven-year-old boy drowns in pond while playing

Saudi Arabia bans travel to 16 countries including India

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.