Mumbai, India (BBN)-Indian rupee tumbled 30 paise to trade over 28-month low at 67.95 against the dollar in early trade on Wednesday, mainly due to strong demand for the American unit from importers and banks amid a lower opening in the domestic equity market.
Moreover, sustained capital outflows weighed on the domestic unit but the dollar’s weakness against some other currencies overseas capped the rupee’s fall, traders said, reports the PTI.
The rupee had closed three paise higher at 67.65 against the US currency in yesterday’s trade on fresh selling of dollars by banks and exporters amidst a recovery in equities.
Meanwhile, the benchmark BSE Sensex plunged 412.95 points, or 1.69 per cent to 24,066.89 in early trade.