The Indian Rupee got weaker on Tuesday Feb 20,2018 against the US dollar tumbling as much as 58 paise hitting the lowest level since November 2017 as the extended sell-off by foreign investors in the domestic equity markets weighed.
The forex market and settlement houses were closed on Monday on the account of Chhatrapati Shivaji Maharaj Jayanti.
The rupee lost a whopping 58 paise to close at 64.79 against the US dollar on Tuesday. During the day, the domestic currency tumbled about 64 paise to hit 64.85 apiece US dollar, its lowest since 23 November 2018.
The rupee opened 27 paise down at 64.48 vs the US dollar at the interbank foreign exchange market on Tuesday. The Reserve Bank of India fixed a reference rate of 64.5254 against the US dollar on Tuesday.
Earlier on Friday last week, the rupee turned weaker against the US dollar tumbling as much as 30 paise to close at 64.22 apiece US dollar.
The US dollar continued its rebound from three-year lows on Tuesday, having recovered 1.5% since Friday on the view that the US currency was due a correction after a brutal sell-off in recent weeks
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