The Rupee Extended Losses In Late Morning Trade - Dollar Advisory Financial Services

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Tuesday 16 January 2018

The Rupee Extended Losses In Late Morning Trade

The rupee extended losses in late morning trade, dropping by 21 paise to 63.70 against the greenback in late morning deals on sustained dollar demand from importers and banks amid widening trade deficit.

The rupee came under pressure as trade deficit widened to three-year high at USD 14.88 billion in December,government data showed yesterday, imports surged nearly 21.1 per cent year-on-year to USD 41.90 billion last month while exports grew 12.4 per cent on-year to USD 27.03 billion.

The rupee opened lower at 63.60 per dollar from yesterday's closing level of 63.49 at the inter-bank foreign exchange today.

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