Mumbai: The rupee slid on Monday following the dollar’s global rally against major currencies after data released on late Friday showed that the US economy has added more jobs.
At 2.20pm, the local currency was trading at a one-and-a-half month low of 54.48 a dollar, against its Friday close of 53.8112, or down 1.26%. The rupee touched a low of 54.56 a dollar in intraday trading after opening at 54.11 a dollar in the morning.
The dollar index, which measures the US dollar’s strength against six major currencies of the world, rose to 80.745 on Monday against 80.593 on Friday and 79.919 at the end of October, showing the rapid rise of the world’s most preferred currency. The impending election in the US is also weighing on investors’ sentiment, making the dollar rally as it is considered a safe haven currency in times of global uncertainty.
Weakness in the equity market also weighed on the rupee. The BSE’s benchmark Sensex had fallen 0.26%.
