Rupee ends at 68.42, fresh 16-month low against USD

The Rupee on Wednesday dropped by 39 paise to 68.42, a fresh 16-month low ahead of the minutes of US Federal Reserve’s last policy meet scheduled to be released later in the day.

Firm dollar against most global currencies and sustained capital outflows dragged the indian currency, Forex dealer informed.

Negative domestic stock market and demand for the US currency from importers also weighed on the rupee, they added.

In opening trade, the local unit fell by 12 paise to 68.15. Till the end of the day it further lost ground by 39 paise to 68.42 as compared to its last close.

It registered day’s high and low at 68.46 and 68.15 respectively, they added

 

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