Rupee Plunges To 19-Month Low On Strong Month-End US Dollar Demand

INSUBCONTINENT EXCLUSIVE:
The Indian rupee leaped by 30 paise on Wednesday to hit a 19-month low of 68.54 against the US dollar in early trade, new agency PTI
reported
The major plunge in Indian rupee was due to strong month-end dollar demand from importers and banks amid sustained foreign capital outflows
This is the rupee's lowest level against the greenback since November 29, 2016, said PTI
According to traders, the US dollar's strength against some currencies overseas weighed on the local unit but a higher opening of the
paise to close at 68.24 against the US dollar
production losses in Canada, Libya and from the Neutral Zone between Saudi Arabia and Kuwait, but under pressure from higher supply from
The SP BSE Sensex opened 54 points higher at 35,543.89
cent and Taiwan 0.12 per cent, while Japan's Nikkei shed 0.33 per cent in their early deals
(With PTI inputs)