Rupee nosedives 23 paise against US dollar

27/12/2016 12:20

The Indian rupee tumbled 23 paise against its US counterpart on Tuesday amid fund outflows by foreign funds and importers despite firm trading in equity market.

At the Interbank Foreign Exchange Market, the local currency was trading down by 23 paise to 67.96 per dollar from a previous close of 67.73 per dollar at 12:24 hours.

Meanwhile, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25941.71, up by 134.61 points or by 0.52 per cent, and the NSE Nifty was at 7950.75, up by 42.5 points or by 0.54 per cent.

According to Dun & Bradstreet report, the rupee is likely to remain under pressure and is expected to trade in the range of around 67.70 – 67.90 per dollar this month, citing limited foreign capital flows due to low productivity in the Winter session of Parliament and ambiguity over implementation of GST.


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