Rupee falls by 16 paise against USD

Rupee falls by 16 paise against USD

Agency News

Mumbai, Sep 4: The Rupee on Tuesday eased by 16 paise to 71.37, a new record low in early trade on rising demand for US Dollars by bankers and importers, dealers at the Forex Market said.

The local unit slipped on firm Dollar against other world currencies overseas as investors bid for safe haven assets, amid tensions over global trade and strains in emerging market currencies, they said.

A major fluctuation was seen during an intraday trade, as it registered day high and low at 71.37and 71.09 respectively, they added. (UNI)