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Rupee dips to 2-month low at 66.80 versus US dollar

The rupee today continued its falling streak against the US currency for the third day, slipping by another three paise to hit 2-month closing low of 66.80 on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.

Rise in crude oil prices also affected the rupee-value against the dollar, a forex dealer said.

The rupee resumed lower at 66.90 as against the last weekend’s level of 66.77 per dollar at the Interbank Foreign Exchange (Forex) Market and moved down to 66.91 on initial heavy dollar demand from banks.

However, it trimmed its initial losses and recovered 66.7225 per dollar before ending at 2-month closing low at 66.80, still showing a loss of 3 paise or 0.04 per cent.

The domestic currency has lost 24 paise or 0.36 per cent in the last three trading sessions.

The rupee had last ended at 67.22 per dollar on March 16, 2016.

The domestic currency hovered in a range of 66.7225 and 66.9100 per dollar during the day.

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