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Rupee dives 28 paise vs USD in late morning deals

Rupee

Mumbai : In line with equities, the rupee plummeted further by 28 paise to 66.90 against the US dollar in late morning deals on government’s move to withdraw higher-denomination currency notes compounded with US election trend.

The domestic currency opened lower at 66.70 as against yesterday’s closing level of 66.62 per dollar at the Interbank Foreign Exchange (Forex) market.

Later, it spiralled downward and languished between 66.90 and 66.70 during morning deals, it was still quoting 66.90 at 1045 hrs.

Meanwhile, the dollar Index was dropped by 2.06 per cent at 95.91 against a basket of six currencies in the early trade.

In overseas market, the US dollar sank more than three per cent versus yen and turned tail against other major peers in early Asian trade amid extremely volatile trade in global market.

An early trend suggesting Republican Donald Trump’s lead in US presidential election also influenced the trading sentiment.

Meanwhile, the benchmark BSE Sensex was trading sharply down by 932.03 points, or 3.38 per cent, to 26,659.11, at 1050 hrs.

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