Rupee Falls by 20 paise to 67.94 on dollar

MUMBAI: Holding its consistent downfall for the fourth-straight session, the rupee on Wednesday fell by 20 paise to end at near five-month low of 67.94 against the US currency in a highly volatile trade amid unabated dollar outflows.

Sustained greenback buying by banks and importers amid a continued pullout of capital by foreign funds predominantly weighed on the domestic currency, dealers said.

The dollar maintained its bullish momentum in Asian and early European trade after a robust US retail sales data reiterated speculation that the Federal Reserve will raise rates soon, forex traders said.

The rupee resumed modestly higher at 67.68 compared to previous close of 67.74 at the Interbank Foreign Exchange market and strengthened further to 67.61 due to adequate supply of greenback and also firm local equities.

 

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