Global trade tensions dent rupee; closes at 72.98
Tuesday - September 18, 2018 6:06 pm ,
Category : BUSINESS
Global trade tensions dent rupee; closes at 72.98
Mumbai Sep 18 (IANS) The latest global trade protectionist measures along with high crude oil prices dragged the Indian rupee to a fresh low of 72.98 per US dollar on Tuesday.
At 5 p.m. the rupee closed at 72.98 per greenback from its previous close of 72.51 per dollar.
It had opened at 72.60 per US dollar at the Inter-Bank Foreign Exchange Market and remained range bound.
However the Indian currency s slide commenced from 4.45 p.m. onwards as it touched 72.96 breaching its previous intra-day record low of 72.91 made on September 12.
According to analysts concerns over a rise in inflation rate growing protectionism in global trade and an outflow of foreign funds from the country s equity market have had an adverse impact on the Indian currency.
--IANS rv-rrb/bg
At 5 p.m. the rupee closed at 72.98 per greenback from its previous close of 72.51 per dollar.
It had opened at 72.60 per US dollar at the Inter-Bank Foreign Exchange Market and remained range bound.
However the Indian currency s slide commenced from 4.45 p.m. onwards as it touched 72.96 breaching its previous intra-day record low of 72.91 made on September 12.
According to analysts concerns over a rise in inflation rate growing protectionism in global trade and an outflow of foreign funds from the country s equity market have had an adverse impact on the Indian currency.
--IANS rv-rrb/bg
