Wednesday, Nov 21, 2018 | Last Update : 11:57 PM IST

Rupee weakens further, hits fresh low to 72.64 against USD

PTI
Published : Sep 10, 2018, 11:55 am IST
Updated : Sep 10, 2018, 12:48 pm IST

The domestic unit witnessed intense volatility and traded between 72.07 and hit all-time low of 72.48.

The rupee weakened further to hit a fresh low of 72.48 against the US currency, falling 75 paise in late morning deals on Monday on rising crude oil prices, strengthening dollar and a widened current account deficit. (Photo: AP)
 The rupee weakened further to hit a fresh low of 72.48 against the US currency, falling 75 paise in late morning deals on Monday on rising crude oil prices, strengthening dollar and a widened current account deficit. (Photo: AP)

Mumbai: The rupee weakened further to hit a fresh low of 72.64 against the US currency, falling 91 paise in late morning deals on Monday on rising crude oil prices, strengthening dollar and a widened current account deficit.

Earlier the rupee resumed slightly lower at 72.18 against last Friday's closing level of 71.73 a dollar at the Interbank Foreign Exchange here. The domestic unit witnessed intense volatility and traded between 72.07 and hit all-time low of 72.64 during morning deals.

India's current account deficit (CAD) widened to USD 15.8 billion in April-June in value terms this year as against USD 15 billion in the same quarter of 2017-18, mainly due to a higher trade deficit, according to RBI data released Friday. Domestic macro situation and dollar's strength amid fear of currency crisis continued to spook the rupee, a dealer said.

Overseas, the US dollar edged higher against a basket of currencies in early Asian trade on strong US August jobs data and fears of an escalation in the China-US trade conflict. Meanwhile, the 30-share BSE Sensex is trading lower by 238.01 points, or 0.62 per cent, at 38,151.81 at 1055 hrs.

Tags: indian rupee, us dollar, rupee depreciation, foreign exchange
Location: India, Maharashtra, Mumbai (Bombay)