Rupee plunged by 60 paise against dollar

Mumbai, Sep 17 –  The rupee on Tuesday fell by 60 paise to 63.43 against the dollar in early trade today at the Interbank Foreign Exchange market as the US currency gained strength overseas.

Forex dealers said besides dollar's gains against other overseas currencies, rise in wholesale price inflation for August and fresh demand from importers for the American currency also put pressure on the rupee.

They said a lower opening in domestic equity market too weighed on the local currency.

The rupee added 65 paise to close at one-month high of 62.83 against the US currency in the previous session on hope that Sebi's steps to ease investment norms for overseas entities in government debt would attract more capital flows.

Meanwhile, the BSE benchmark sensex fell by 55.25 points, or 0.28%, to trade at 19,687.22 in early trade today.
 

Source: TOI