Rupee slumps 23 paise to 64.30 in late morning deals

February 06, 2018 11:36

The rupee fell by 23 paise to hover near one-and-a-half-month low at 64.30 against the US currency in late morning on sustained bouts of dollar demand from importers and banks amid sell-off in local equities.

The rupee opened sharply lower at 64.35 per dollar as against yesterday's closing level of 64.07 at the inter-bank foreign exchange here. It plunged further to 64.40 taking cues from weak domestic equities reacting to global sell-off. The benchmark Sensex fell by over 900 points in early trade. The Indian unit was trading between 64.40 and 64.30 per dollar during morning deals.

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