Rupee drops to fresh record low of 71.79 against USD
05/09/2018 14:06:00
New Delhi : The rupee pared initial gains to drop to a fresh all-time low of 71.79 against the US dollar, falling 21 paise in late morning deals Wednesday on sudden bouts of dollar-buying by banks and importers. Earlier the rupee resumed higher at 71.43 against yesterday's closing level of 71.58 a dollar. The dollar strengthened against a basket of currencies overseas as the US economy continued to exhibit strength amid a lingering threat of escalation in the US-China trade conflict, leading to a fall in the domestic unit.
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