Dynamite News
Rupee plunges 37 paise against US dollar
The rupee plunged by 37 paise to 67.45 against the US dollar in early trade on Wednesday.
Mumbai: The rupee plunged by 37 paise to 67.45 against the US dollar in early trade today following surging demand for the greenback as crude oil prices zoomed past USD 76 per barrel level amid foreign capital outflows.
Forex dealers said the dollar strengthened against major global currencies overseas as crude oil prices rallied and pushed Treasury yields higher after US President Donald Trump pulled out from the international nuclear deal with Iran.
Early losses in stock markets and demand for the US currency from importers also weighed on the rupee, they added.
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Yesterday, the rupee gained five paise to 67.08 against the US currency on suspected RBI intervention and stray dollar demand.
Meanwhile, the benchmark BSE Sensex fell 82.12 points, or 0.23 per cent, to 35,134.20 in early trade today. (PTI)