Rupee slips 42 paise to 72.08 vs USD in early trade

August 26, 2019 10:24

The rupee on Monday declined by 42 paise to 72.08 against the US currency in early trade, due to strong dollar demand from banks and importers amid unabated foreign fund outflows.

Forex trader said the local unit came under pressure after the latest escalation of the US-China trade war. Meanwhile, on Monday, China's currency slid to its lowest point in over 11 years amid concerns over global recession and the US trade war. The Indian rupee on Friday had closed at 71.66 against the US dollar.

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