Rupee tumbles 59 paise against US dollar, breaches 56-level

The rupee today breached the 56-mark, down 59 paise at 56.01 against the US dollar on the Interbank Foreign Exchange on high demand for the US currency from banks and importers.

The rupee on Monday breached the 56-mark, down 59 paise at 56.01 against the US dollar on the Interbank Foreign Exchange on high demand for the American currency from banks and importers.

Besides, the dollar also strengthened against other currencies such as the euro in the overseas market following disappointing US jobs growth figures, putting further pressure on the rupee, dealers said.

Rupee-versus-dollar

The domestic currency has fallen past the 56-level against the dollar after June 29.

The rupee opened the day weaker, at Rs 55.90 a dollar, but recovered temporarily to 55.82 before slipping again to breach the 56-mark at 56.01 at 1130 hrs, down by 59 paise over the previous close of Rs 55.42 on Friday.

The rupee had lost 45 paise in the last session.

Meanwhile, the BSE benchmark Sensex was down 65.77 points, or 0.38% at 17,455.35.