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Rupee slides 12 paise to 68.11 against US dollar

On Monday, the rupee had settled marginally up by 2 paise at 67.99 against the US currency.

business Updated: Jun 19, 2018 13:07 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
Rupee,Rupee vs dollar,Rupee today
Increased demand for the US dollar from importers and banks amid persistent foreign fund outflows also weighed on the rupee.(REUTERS File Photo)

The rupee tumbled by 12 paise to a fresh three-week low of 68.11 against the US dollar in late morning trade on Tuesday, on sustained demand for the American currency from importers and banks amid lower local equities.

The rupee opened a tad higher against Monday’s closing level of 67.99 at the inter-bank foreign exchange market here.

Later, the domestic unit hovered between 67.98 and 68.12 per dollar during morning deals. It was quoting at 68.11 at 10.30 am.

Persistent foreign capital outflows are looming over the rupee, a dealer said.

Meanwhile, the US dollar was mostly mixed against other currencies in early Asian trade. It fell against the yen and Swiss franc after US President Donald Trump’s threat of additional tariffs on China raised worries about an escalating trade war between the world’s two largest economies.

First Published: Jun 19, 2018 09:46 IST