Rupee tumbles 42 paise against US dollar


The rupee was trading lower by 42 paise at 67.67 against the US dollar in early trade on Tuesday as the American currency strengthened overseas amid a lower opening of the domestic equity market.

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. T REUTERS/Vivek Prakash/Files

Forex dealers said continued demand for the American unit from importers and the greenback’s persistent gains against other Asian currencies since Donald Trump’s unexpected win in the US presidential election on November 8, putting pressure on the rupee.

On Friday, the rupee had lost 62 paise to end at over three-month low level of 67.25 against the American currency on fears of capital outflows amid resurgent dollar overseas.

Forex market remained closed yesterday on account of ‘Guru Nanak Jayanti’.

Meanwhile, the benchmark BSE Sensex plunged by 344.27 points, or 1.28 per cent, to 26,474.55 in early trade on Tuesday.

(With inputs from PTI)