Rupee plunges to five-month low

FPJ Bureau | Updated on: Wednesday, May 29, 2019, 10:50 PM IST


Mumbai : The rupee on Wednesday nosedived 32 paise to hit a fresh five-month low of 65.31 against the US dollar as surging crude oil prices and growing geopolitical uncertainties rattled forex market sentiment. This is the lowest closing for the home currency since November 14, 2017, when it had ended at 65.42 against the greenback. Brent crude, an international benchmark, is trading near a four-year peak of $71.70 a barrel in early Asian trade. The intense volatility pulled the rupee to hit a fresh low of 65.32 intra-day during mid-afternoon after a sense of panic rippled through currency trading floors.

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Published on: Thursday, April 12, 2018, 12:18 AM IST