Rupee hits 39-month low at 68.84 against dollar

The Indian currency has shrunk 2.92% since Donald Trump's victory in the US Presidential election earlier this month

India, Economy, Surplus, Rupee
An employee poses with the bundles of Indian rupee notes inside a bank in Agartala. Photo: Reuters

The rupee crashed to nearly 39-month low of 68.84, plummeting by another 28 paise against the US dollar in early trade on Thursday amid sustained foreign fund outflows and the greenback's surge in overseas markets. The domestic currency had hit its all-time intra-day low of 68.85 and closed at 68.80 on August 28, 2013.. Forex dealers said besides a strong month-end demand for the American currency from importers, continued capital outflows by foreign funds and the dollar's bull run on an imminent hike in Fed's interest rates, mainly weighed on the domestic ...