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Rupee falls to fresh 1-month low, down 42 paise against US dollar

Rupee falls to fresh 1-month low, down 42 paise against US dollar: On Friday, The rupee turns down by 42 paise to hit a fresh 1-month low of 67.54 per dollar in early trade, because of the appreciation of the American currency overseas and outflows of foreign fund.

Indian Coins Stack in form of bar graph with Indian Rupees

In addition, weakness in the domestic stock market weighed on the rupee which is of the Interbank Foreign Exchange market.

Forex dealers said increased demand for the US currency from importers which is also gains against other currencies overseas put pressure on the rupee.

The domestic unit, On Thursday, had ended lower by 20 paise to 67.12 as the revival in global crude prices renewed India’s concerns for the fiscal front.

In the meantime, the benchmark BSE Sensex fell by 137.10 points, or 0.38%, to 35,325.98 in the opening trade of the Friday.