Business Market 24 May 2016 Rupee at over 2-1/2 ...

Rupee at over 2-1/2 month low, down 18 paise against dollar

PTI | DECCAN CHRONICLE
Published May 24, 2016, 9:47 am IST
Updated May 24, 2016, 9:47 am IST
Besides, persistent demand for the American currency from importers and banks and dollar's strength against other currencies overseas.
 Besides, persistent demand for the American currency from importers and banks and dollar's strength against other currencies overseas.

Mumbai: The rupee slid for the ninth day as it depreciated 18 paise more to trade at over 2-1/2 month low of 67.67 against the dollar on May 24, hit by sustained foreign fund outflows amid a lower opening in the domestic stock market.

Besides, persistent demand for the American currency from importers and banks and dollar's strength against other currencies overseas on renewed possibility of the US Fed raising borrowing costs as early as June weighed, forex dealers said.

The rupee had ended 5 paise lower at 67.49 on May 23, on continuous demand for the greenback from banks and importers amid a fall in domestic equities. Meanwhile, the benchmark Sensex fell 37.94 points, or 0.15 per cent, to 25,192.42 in early session.

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