Rupee plunges to 64-level vs US dollar

The rupee depreciated 11 paise to 63.68 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market as the American currency firmed up overseas.
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Updated on May 26, 2015 07:19 PM IST
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PTI | By, Mumbai

Extending its decline for the second straight session, the rupee slumped to 64-level against the American currency after nearly two weeks before ending at 63.98, falling by another 41 paise on persistent dollar demand from banks and importers.

The rupee resumed lower at 63.60 per dollar as against Monday's closing level of 63.57 at the Interbank Foreign Exchange market and dropped further to 64.0050 per dollar after nearly two weeks before ending at 63.98, showing a loss of 41 paise or 0.64%.

The rupee was traded at 64.04 per dollar during the intra-day on May 14, 2015.

The rupee had ended lower by 0.05 paise or 0.08% Monday.

The domestic currency moved in a range of 63.60 per dollar and 64.050 per dollar during the day.

In the global market, the euro hit a one-month low against the dollar Tuesday as fears lingered about the Greek debt situation, while the dollar hit a fresh two-month high against yen.

Meanwhile, oil prices were mixed in subdued Asian trade Tuesday as dealers searched for fresh cues following public holidays in the United States and much of Europe, analysts said.

US benchmark West Texas Intermediate for July delivery gained 12 cents to $59.84 while Brent crude for July fell one cent to $65.51 in late-morning trade.

The Indian benchmark Sensex fell by 112.47 points or 0.41% Tuesday.

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