The rupee continued decline against the dollar on both the open and inter-bank market on Tuesday amid strong buying for dollar, marketmen said.
Explaining the rise in the US currency, they said that under the circumstances, the dollar is short in demand, how the national currency would be able to hold its present levels?
INTER-BANK MARKET RATES: RATES: The rupee dropped sharply versus the greenback for buying and selling at Rs 167.80 and Rs 168.00 respectively, they said.
OPEN MARKET RATES: The rupee dipped in terms of the dollar for buying and selling at Rs 167.00 and Rs 168.00 respectively, they said.
The rupee, however, gained modestly against the euro for buying and selling at Rs 176.50 and Rs 178.50 respectively, they said.
In the second Asian market trade, the dollar fell against the yen on Tuesday as underlying concerns about the economic shock wrought by the coronavirus crisis kept many investors on edge.
The pound clawed back some recent losses against the dollar, but sentiment for sterling remains fragile after British Prime Minister Boris Johnson was moved to intensive care after his coronavirus symptoms worsened.
The dollar was trading against the Indian rupee at 76.220, the greenback was available at 4.340 versus the Malaysian ringgit and the US currency was at 7.083 in terms of the Chinese yuan.
======================== Open Bid Rs 167.00 Open Offer Rs 168.00 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
======================== Bid Rate Rs 167.80 Offer Rate Rs 168.00 ========================