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Rupee falls 12 paise vs USD

Prime News, National, Business, Mumbai, June 19:- The rupee tumbled by 12 paise to a fresh three-week low of Rs 68.11 against the US dollar in late morning trade today on sustained demand for the American currency from importers and banks amid lower local equities.

The rupee opened a tad higher against Monday’s closing level of Rs 67.99 at the inter-bank foreign exchange market here. Later, the domestic unit hovered between Rs 67.98 and Rs 68.12 per dollar during morning deals. It was quoting at Rs 68.11 at 10.30 am.

Persistent foreign capital outflows are looming over the rupee, a dealer said.

Meanwhile, the US dollar was mostly mixed against other currencies in early Asian trade. It fell against the yen and Swiss franc after US President Donald Trump’s threat of additional tariffs on China raised worries about an escalating trade war between the world’s two largest economies.

The 30-share BSE Sensex was trading lower by 160.26 points or 0.45 per cent at 35,388.00 at 10.45 am. –(Inputs: Agencies, NGB)

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