Rupee hits new low of 73.34, plunges 43 paise against US dollar


Team Udayavani, Oct 3, 2018, 10:14 AM IST

Mumbai: The Indian rupee Wednesday crashed below the 73 mark against the dollar for the first time ever on strong demand for the American currency from importers amid rising global oil prices and unabated capital outflows.

At the Interbank Foreign Exchange (forex) market, the domestic currency dropped 43 paise to 73.34 against the US dollar in the early trade. The rupee opened lower at 73.26 and weakened further to quote at 73.34 a dollar against its previous closing of 72.91 on Monday.

Foreign institutional investors (FIIs) sold shares net worth a net of Rs 1,842 crore on Monday, provisional data showed.

Investors remained concerned over sustained foreign capital outflows and soaring crude oil prices that crossed the USD 85 per barrel.

The rupee on Monday tumbled 43 paise to end at a two-week low of 72.91 against the US dollar on steady capital outflows.

Forex dealers said besides strong demand for the American currency from importers, concerns of fears of rising fiscal deficit and capital outflows mainly weighed on the domestic currency.

Forex market remained closed on Tuesday on account of Gandhi Jayanti. Meanwhile, the BSE benchmark Sensex dropped by 137.62 points, or 0.38 per cent, to 36,388.52 in opening trade on Wednesday. 

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

Top News

Delhi court extends Poonawala’s judicial custody by 14 days

Arguments spark between officers, archaka during Governor Gehlot’s Anjanadri visit

Call on Rohit’s availability for Test series to be taken later: Jay Shah

Himachal polls: Rebels played spoilsport in 12 out of 68 assembly seats

3rd ODI: Injury-plagued India stare at clean sweep by ‘Bangla Tigers’ with only 13 fit players

PFI conspiracy case: NIA raids three locations in Kerala, Karnataka

Mangaluru: Four students suspended for dancing in Burqas


Related Articles More

Sensex rises 115 points in early trade; Nifty above 18,640

Sushmita Shukla appointed First Vice President, Chief Operating Officer of Federal Reserve Bank of New York

BharatPe files criminal suit against Ashneer Grover, family

Sensex, Nifty flat in early trade ahead of key poll results

RBI to add feature in UPI platform to help customers in e-comm, share purchases

MUST WATCH

An attempt to Black Paint On branch of Bank of Maharashtra

How to Breed Persian Cat | Persian Cat Breed Information

Road mishap at Beltangady

Bihar: thieves steal oil from moving goods train

tips to learn Flip easily!


Latest Additions

Amit Shah to meet CMs of Maharashtra, Karnataka on Dec 14: NCP leader

‘500 per cent’ improvement in passport services under Modi govt: MoS Muraleedharan

Delhi court extends Poonawala’s judicial custody by 14 days

Arguments spark between officers, archaka during Governor Gehlot’s Anjanadri visit

Maha: Two women rescued from flesh trade; man held, two others booked

Thanks for visiting Udayavani

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