₹ loses ground as $ climbs, dips by 23p to 65.05
27 Oct 2017 10:10 PM IST
Mumbai: Snapping its two-day winning run, the rupee took a hefty knock by plunging 23 paise to close at 65.05 against the US currency following fresh dollar demand from importers amid sluggish equities.
Fresh capital outflows and month-end dollar demand from importers, mainly oil refiners to meet their import requirements largely kept rupee under immense pressure.
The rupee ended at a fresh one-week high of 64.82 yesterday against the American currency. Currency traders and speculaters seemed reluctant to place aggressive bets and preferred to stay on the sidelines ahead of the weekend and also release of advance US GDP growth number later in the day for fresh impetus.
In the meantime, global crude prices shot-up to a fresh 27-month high of $59.87 a barrel mark.
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