Rupee tumbles by 44 paise to more than 2-year low at 67.29

The Indian rupee tumbled by 44 paise to more than 2-year low at 67.29 against the American currency on fresh dollar demand from banks and importers amidst volatile equities. The Indian unit resumed sharply lower at 66.98 per dollar against yesterday’s closing level of 66.85 per dollar at the Interbank Foreign Exchange (Forex) market and dropped further to 2-year low to 67.30 per dollar before concluding at 67.29 per dollar, showing a loss of 44 paise or 0.66 per cent. The rupee had last settled at 67.63 per dollar on September 3, 2014 and intra-day trade at 68.62 per dollar on September 4, 2014. It moved in a wide range of 67.30 and 66.98 during the day.