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Rupee falls 31 paise against US dollar

On Monday, the rupee had surged by 35 paise to end at a new two-week high of 67.43 against the US dollar after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.

business Updated: May 29, 2018 12:08 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
US dollar,Rupee,Rupee today
The domestic unit resumed lower at 67.62 against Monday’s closing level of 67.43 per dollar at the inter-bank foreign exchange.(Reuters File Photo)

The rupee weakened further to trade 31 paise lower at 67.74 against the US dollar in late morning deals following sustained bouts of month-end dollar demand from importers and banks.

The domestic unit resumed lower at 67.62 against Monday’s closing level of 67.43 per dollar at the inter-bank foreign exchange.

It slid further to 67.75 before quoting at 67.74 at 10.30 am, hovering between 67.50 and 67.75 during morning deals.

“Continued foreign capital outflows and month-end dollar demand weighed on rupee sentiment,” a dealer said.

On Monday, the rupee had surged by 35 paise to end at a new two-week high of 67.43 against the US dollar after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 795.06 crore Monday, provisional data showed.

First Published: May 29, 2018 12:08 IST