Post Rexit, Rupee Plummets by 61 Paise, Markets Open in Red

A man watches Indian Indian stock market indices on a display screen on the facade of the Bombay Stock Exchange (BSE). (Photo: AP)

• Rupee nosedived by 61 paise to 67.69 against the US dollar in the opening trade Monday after RBI Governor Raghuram Rajan said no to a second term.
  
  
• Forex dealers said besides lower opening in the domestic equity market, fresh demand for the American currency from importers also put pressure on the rupee. They said, however, the dollar’s weakness against some currencies overseas, restricted the rupee’s losses.
  
  
• On Friday, the rupee had recovered 13 paise to 67.08 against the American unit on account of fresh selling by bankers and exporters and recovery in stock markets.
  
  
• Meanwhile, the benchmark BSE Sensex dropped 178.03 points or 0.66 percent to 26,447.88 in early trade on Monday.

(With PTI inputs.)

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