The Indian rupee extended its fall on Thursday and declined 22 paise to trade at day’s low level of 70.08 against the dollar. The currency opened 20 paise down at 70.06/$.
At 11:33 AM, IST, the domestic unit was trading 11 paise down at 69.98/$. On Wednesday, the currency fell 24 paise at 69.86/$.
The depreciation is on the back of the sharp rally in the American currency against its major peers. The greenback spurted to six-month high levels after an unexpected fall in a leading indicator for economic activity in Germany alerted the divergence between economic data in the United States and the euro zone.
Notably, the currency pared its morning losses after the domestic equity markets gripped the upward momentum. The Sensex gained 187 points at 39,241 levels and the Nifty at 11,793 levels, rose 67 points.
No comments