Rupee drops 24 paise Vs USD in early trade ahead of GDP data

Updated: Thu, Nov 30, 2017
11:58 pm
PTI
RELATED NEWS
NOTIFICATION by CBDT! Govt booster for strategic disinvestment, no gift tax on transfer of shares in PSUs NOTIFICATION by CBDT! Govt booster for strategic disinvestment, no gift tax on transfer of shares in PSUs
11 States meet the target for capital expenditure in Q1FY22; get permission to mobilise additional Rs 15,721 cr 11 States meet the target for capital expenditure in Q1FY22; get permission to mobilise additional Rs 15,721 cr
Trust between govt, industry critical to leverage opportunities created by COVID, says Finance Minister Nirmala Sitharaman Trust between govt, industry critical to leverage opportunities created by COVID, says Finance Minister Nirmala Sitharaman

The rupee dropped sharply by 24 paise to 64.55 against the American currency in early trade today ahead of the September quarter GDP data.

Currency dealers said apart from increased month-end demand for the US currency from importers and a lower opening of the domestic equity markets, dollar's gains against other currencies overseas on upbeat US economic growth data weighed on the rupee.

Yesterday, the rupee had maintained its upbeat trend for the third straight session and firmed up by another 10 paise to end at a fresh two-month high of 64.31 against the US dollar ahead of the GDP data.

Meanwhile, the benchmark BSE Sensex was trading lower by 185.24 points or 0.55 per cent to 33,417.52 in early trade today.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.