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Rupee plunges to a week's low

Sharp fall occurred around 1.30 p.m. when rupee depreciated to 66.95-96 to a dollar

Policy Pulse
Publish Date: Sep 29 2016 3:28PM | Updated Date: Sep 29 2016 3:28PM

Rupee plunges to a week's low

 The Indian rupee on Thursday dipped to its lowest level in last one week after Indian army announced that it had carried out "surgical strikes" on terror camps across Line of Control (LoC) with Pakistan.

 
The Indian currency, which opened at 66.44 to a US dollar, had already dipped in initial hours of the day's trade.
 
Sharp fall occurred around 1.30 p.m. when rupee depreciated to 66.95-96 to a dollar. 
 
But Indian currency bounced back marginally to 66.85 to a greenback before speculative selling pulled it lower to 66.89 at 2.40 p.m.