The Rupee Dropped Sharply By 19 Paise To 64.50 Against The American Currency - Dollar Advisory & Financial Services

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Thursday 30 November 2017

The Rupee Dropped Sharply By 19 Paise To 64.50 Against The American Currency

The rupee dropped sharply by 19 paise to 64.50 against the American currency in early trade today ahead of the September quarter GDP data.

Currency dealers said apart from increased month-end demand for the US currency from importers and a lower opening of the domestic equity markets, dollar's gains against other currencies overseas on upbeat US economic growth data weighed on the rupee.

Yesterday, the rupee had maintained its upbeat trend for the third straight session and firmed up by another 10 paise to end at a fresh two-month high of 64.31 against the US dollar ahead of the GDP data.

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