1 week Ago By The Hans India
Mumbai : The rupee extended its losing streak for the fourth straight session and settled 45paise lower at 86.71 against the US dollar on Wednesday, amid escalating tariff turbulence globally even as the Reserve Bank reduced key interest rate by 25 basis points as a growth-stimulus measure. Even though crude oil prices fell sharply to a record level and the American currency remained weak, the Indian currency stayed under pressure due to incessant outflow of foreign funds and lacklustre sentiment in the domestic equity markets, forex traders said.
At the interbank foreign exchange, the rupee opened at 86.52 and moved between a high of 86.47 and the low of 86.
71 against the greenback during intraday, facing extreme volatility..
