The rupee on Thursday tumbled further and hit an all-time low of 65.12 against the U.S. currency on persistent dollar demand from banks and importers.
The rupee resumed lower at 64.85 per dollar as against the Wednesday’s closing level of 64.11 per dollar at the Interbank Foreign Exchange Market and dropped further to an all-time low of 65.12 per dollar. However, it recovered afterwards to 64.65 per dollar.
Persistent capital outflows by foreign funds mainly affected the market sentiment as they sold shares worth a net Rs. 792.11 crore on Wednesday, according to provisional data from stock exchanges.
In New York, the U.S. dollar rose against most key rivals on Wednesday as minutes from the Federal Reserve’s July meeting showed almost all officials supported a slowing of bond buys later this year.
