Political uncertainty, global cues weaken rupee to record closing low
Thursday - July 19, 2018 10:40 pm ,
Category : BUSINESS
Political uncertainty, global cues weaken rupee to record closing low
Mumbai July 19 (IANS) Domestic political uncertainty a day ahead of a no-confidence motion against the central government weakened the Indian rupee to its record low level against the US dollar on Thursday.
Accordingly the Indian rupee weakened by 42 paise against the US dollar to close at 69.05 on Thursday from its previous close at 68.63 per greenback.
Previously the rupee had touched a record closing low on July 5 at Rs 68.94-95 against the USD.
Apart from the political concerns outflow of foreign funds from the Indian equity and bond markets and possibility of an escalation in global trade and tariff war have had an adverse impact on the rupee.
On Thursday provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 315.69 crore.
--IANS rv-rrb/sed
Accordingly the Indian rupee weakened by 42 paise against the US dollar to close at 69.05 on Thursday from its previous close at 68.63 per greenback.
Previously the rupee had touched a record closing low on July 5 at Rs 68.94-95 against the USD.
Apart from the political concerns outflow of foreign funds from the Indian equity and bond markets and possibility of an escalation in global trade and tariff war have had an adverse impact on the rupee.
On Thursday provisional data with exchanges showed that foreign institutional investors sold scrips worth Rs 315.69 crore.
--IANS rv-rrb/sed
