Millennium Post

Rs dips by 18p to 16-month low of 67.51 against $

Mumbai: The embattled rupee suffered yet another blow on Monday — falling by 18 paise to end at a fresh 16-month low of 67.51 against the US currency on heavy dollar purchases and sustained fund outflows from equities. This is the lowest closing for the rupee since January 31, 2017, when it had ended at 67.87. A handful of cautious bias kept forex trading mood at extreme level despite a better start.
Currency traders stayed on the sidelines ahead of the critical inflation reading and the Karnataka election verdict, largely ignoring bearish dollar trend overseas. The home currency regained some upside traction in early trade amidst ongoing bearish trend.
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