INSUBCONTINENT EXCLUSIVE:
On Wednesday, the rupee plunged by 49 paise against the dollar to close at 70.59.The Indian rupee today fell further by 23 paise against the
US dollar to trade at a lifetime low of 70.82, reported news agency Press Trust of India (PTI)
At the Interbank Foreign Exchange (Forex) market, the local currency opened a tad higher at 70.57 a dollar from its previous close of 70.59
According to traders, buying by importers, mainly oil refiners in view of surging crude oil prices and capital outflows weighed on the
domestic currency today.2
The dollar strength against its rival currencies overseas too put pressure on the rupee today.3
"Importers month-end US dollar demand and high crude oil prices have pulled the rupee lower", said Rushabh Maru, Research Analyst, Anand
Rathi Shares and Stock Brokers as reported by news agency IANS.4
On Wednesday, the rupee plunged by 49 paise against the dollar to close at 70.59
Meanwhile, the domestic stock market opened on a flat note on Thursday
The SP BSE Sensex dropped 32.55 points to trade at 38,690.38
markets fixed firmly on risks from the Sino-U.S
trade war and taking little comfort from an apparent easing in business tensions in North America and Europe.7
However, oil prices inched today, extending solid gains from the previous session on a fall in U.S
crude inventories and expected disruptions to supply from Iran and Venezuela
