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  Business   Market  22 Sep 2017  Rupee drops to 4-month low of 65.12 against US dollar

Rupee drops to 4-month low of 65.12 against US dollar

PTI
Published : Sep 22, 2017, 10:31 am IST
Updated : Sep 22, 2017, 10:34 am IST

On Wednesday, the rupee plummeted by a whopping 54 paise to end at 64.81 a dollar.

The rupee on Friday dropped by 31 paise to a four-month low level of 65.12 against the US dollar.  (Photo: PTI)
 The rupee on Friday dropped by 31 paise to a four-month low level of 65.12 against the US dollar. (Photo: PTI)

Mumbai: The rupee on Friday dropped by 31 paise to a four-month low level of 65.12 against the US dollar on frenetic dollar demand from importers and banks.

Dealers said early losses in domestic equity markets and unabated foreign fund outflows weighed on the rupee.

On Thursday, the rupee plummeted by a whopping 54 paise to end at 64.81 a dollar, its weakest level in over two-and-half months after the US Federal Reserve left the door open for a rate hike in December.

The benchmark BSE Sensex drifted further lower by 231.79 points, or 0.72 per cent, to 32,138.25 in early trade on Friday.

Tags: indian rupee, rupee against us dollar, us dollar
Location: India, Maharashtra, Mumbai (Bombay)