Rupee at fresh 2-month low, tumbles 39 paise to 67.36

Extending losses for the sixth straight session, the rupee today plummeted by 39 paise to hit an over 2-month low of 67.36 per dollar on persistent demand for the American currency from banks and importers amid higher greenback overseas, coupled with sharp fall in equities.

Foreign capital outflows and higher crude oil prices also affected the rupee value against the dollar, a forex dealer said.

The rupee resumed lower at 67.15 per dollar as against Wednesday's closing level of 66.97 at the Interbank Foreign Exchange and dropped further to 67.3950 before ending at fresh 2-month low at 67.36, showing a loss of 39 paise or 0.58 per cent.

The rupee had last touched 67.38 per dollar on March 15, 2016.

The domestic currency has lost 80 paise or 1.20 per cent in six trading days.

Meanwhile, the RBI fixed the reference rate for the dollar at 67.2307 and euro at 75.4530.

In cross-currency trades, the rupee dropped further against the pound sterling to finish at 98.55 from 97.29 yesterday.

However, it firmed up further against the euro to 75.49 from 75.58.

The domestic currency dropped further against the yen to 61.33 per 100 yens from 61.10 previously.

Image: A bank employee counts bundles of Indian currency at a cash counter in Agartala. Photographs: Jayanta Dey/Reuters