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India News

Rupee falls further, now hits 72.35 per dollar

www.bfirst.in

Mumbai: Continuing its slide, the Indian rupee touched another fresh low of 72.35 on Monday, weakening by 62 paise from its previous close of 71.73 per US dollar. Around 10.30 a.m., the rupee traded at 72.32 per greenback.

It had opened at 72.18 per dollar. Along with decline in global currencies against the dollar and persistent trade tensions, a wider current account deficit of India also weighed on the rupee, analyst said.

India’s current account deficit in April-June period stood at 2.4 per cent of gross domestic product (GDP), against 1.9 per cent of GDP in the January-March quarter of 2017-18, according to data released by the Reserve Bank of India on Friday.

SOURCE : http://www.bfirst.in/big-story/rupee-falls-further-now-hits-7235-per-dollar-514624

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