Indian Rupee Indian Rupee drops 53 paise against USD
Mumbai/UNI: The Rupee on Wednesday slumped by 53 paise at 74.97 at close against the greenback on brisk demand for US Dollar by bankers and importers amid rebounding equity market, dealers at the Forex Market said.
In the opening session, the local unit fell by 16 paise at 74.60. During the day it lost ground by 53 paise and settled at 74.97 as compared to its previous close.
The Rupee remained under pressure due to strong dollar against other world currencies and rising crude oil prices weighed on investor sentiment.
The local unit registered days high and low at 74.54 and 74.99 respectively.
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