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Rupee plunges to 66.16 vs dollar, down 17 paise

The currency has dropped by 49 paise or 0.75% in four days

Image via Shutterstock
Image via Shutterstock

Hit by month-end dollar demand from importers, the rupee on Thursday dropped by another 17 paise against the American currency to close at 66.16, extending losses for  fourth straight day, amid mixed global cues. Sustained foreign capital outflows also affected the market. Foreign portfolio investors sold shares worth a net Rs 1,330 crore on Wednesday, according to provisional data released by the stock exchanges. The rupee resumed sharply lower at 66.20 a dollar against its overnight level of 65.99 at the Interbank Foreign Exchange market. It hovered in a range of 66.27 to 66.03 ...