Rupee drops 31 paise against USD

Rupee drops 31 paise against USD

Agency News

Mumbai, Oct 3: The Rupee on Wednesday plunged to a record fresh low at 73.23 in opening trade following rise in global crude oil prices at the Forex Market said.

A major oscillation was seen during an intra day trade as it registered day high and low at 73.41 and 72.90 respectively. The Indian currency tanked 31 paise on persistent demand for the US currency.

A heavy drop in Indian currency, prompted the central bank to quickly intervene to slow its fall.The partially convertible rupee hit 73.4050 per dollar in early trade, an all-time low, and sharply lower than its previous close of 72.91.

The forex market was shut on Tuesday on account of 'Gandhi Jayanti'. (UNI)