New Delhi: The Indian Rupee on Monday tumbled sharply by 29 paise to stand at 72.49 against the US Ddollar due to the strengthening of greenback overseas.
Forex dealers have said the greenback’s strengthing against other overseas currency after China cancelled upcoming trade talks with the U.S. This weighed heavily on the domestic rupee. Furthermore, losses of domestic equities in volatile early trade also affected the rupee.
Notably, the Indian Rupee had surged by 17 paise against the US dollar to close at 72.20 on Friday sustained by selling of the American currency even as local equities witnessed a high volatility. Earlier, the currency stood at 71.84 against the US dollar on Thursday but came down to 72 levels by the end of the day.
Meanwhile, the benchmark Sensex dropped by 124.14 points or 0.33 per cent to 36,717.46 after opening higher at 36,924.72 during early trade on Monday.
Also Read: Rupee Stronger By 17 Paise; Closes At 72.20 Against Dollar
Kalinga AI