Mumbai, India (BBN) – The rupee breached the 68 mark against the US dollar at the forex market Tuesday.
Falling for the second consecutive day, the rupee plunged 18 paisa to end at 68.05 against the dollar on appreciation of the American currency against other major currencies globally. The fall in Indian equities also weighed on the domestic unit, reports the Hindu Business Line.
The rupee opened at 67.85 and traded between 68.06 and 67.81 in intra-day deals.
In the European markets, the dollar climbed back towards a 14-year high on Tuesday as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro.
Yesterday, the rupee had lost 11 paisa to end at 67.87 on fresh dollar demand from importers and banks. Heavy capital outflows besides near—term consequences of the Federal Reserve rate hike largely kept market sentiments shaky.