Bigger India
Rupee Falls To Lowest In Over A Year Against US Dollar, Breaches Key Level
The rupee fell to as much as 67.18 per dollar, its lowest level since February 2017.
The rupee (INR) fell sharply against the US dollar (USD) today to breach the 67 mark against the greenback. The rupee fell to as much as 67.18 per dollar during today’s trade, its lowest level since February 2017. The rupee had closed at 66.86 per dollar on Friday. The rupee was dragged down by a broad strengthening of the US dollar and a rise in global crude prices, says forex advisory firm IFA Global. Higher domestic equity markets helped provide some support to the rupee at lower levels. The Sensex rose nearly 300 points today. The rupee ended at 67.13 per dollar, its lowest close since February 8, 2017.