Traders attributed the rupee’s fall to increased demand for the dollar from importers and banks after US Treasury Secretary Steven Mnuchin said the trade war with China was on hold, amid hopes of easing trade tensions between the two economies.
PTI
Updated:May 21, 2018, 10:10 AM IST
Image for representation (Photo: Reuters)
Traders attributed the rupee’s fall to increased demand for the dollar from importers and banks after US Treasury Secretary Steven Mnuchin said the trade war with China was on hold, amid hopes of easing trade tensions between the two economies.
Higher crude oil prices and losses in Asian currencies to weighed in the domestic unit, they added.
On Friday, the rupee had lost 30 paise to end at 68 against the US currency on renewed dollar buying interest amid global macro challenges.
Meanwhile, the benchmark BSE Sensex recovered 125.65 points, or 0.36 per cent, to 34,973.95 in early trade today.
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Source: News18