Rupee falls 12 paise to all-time low of 84.72 against dollar

Mumbai: The rupee depreciated 12 paise to close at an all-time low of 84.72 against the US dollar on Monday, on disappointing macroeconomic data and broad strength of the American currency in the overseas markets.

Forex traders said Asian currencies were down after Trump Rhetoric on BRICs currency, as the move may further strengthen the greenback.

President-elect Donald Trump on Saturday threatened a 100 per cent tariff on the BRIC bloc of nations if they act to undermine the US dollar.

At the interbank foreign exchange, the rupee opened at 84.59 and touched the lowest level of 84.73 against the greenback during intra-day trade.

The unit ended the session at an all-time low of 84.72 against the dollar, registering a fall of 12 paise over its previous close.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.51 per cent at 106.27.

India’s forex reserves dropped $1.31 billion to $656.582 billion for the week ended November 22, the RBI said on Friday. The reserves had dropped a record $17.761 billion to $657.892 billion in the previous reporting week ending November 15.