Rupee plunges 12 paise to close at new all-time low of 85.27 against dollar

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Rupee plunges 12 paise to close at new all-time low of 85.27 against dollar - Business Standard

Quick Summary:

The rupee stayed weak for the third straight session and fell 12 paise to settle at a fresh all-time low of 85.27 (provisional) against the US dollar on Thursday, amid a strong greenback and rising crude oil prices.

Forex traders said, increased month-end as well as year-end dollar demand from importers and fear of an aggressive import tariff by the Donald Trump administration lifted the American currency.

The unit finally ended the session at its lifetime low closing level of 85.27 (provisional) against the dollar, registering a loss of 12 paise from its previous close.