Rupee suffers sharpest fall in three months.
Currency breaches 89 mark amid market weakness.
Global and domestic cues drive heavy depreciation.
Rupee Logs Steepest Single-Day Fall In Over 3 Months; Breaches 89/USD-Mark
The rupee logged its sharpest single-day drop in over three months, breaching 89 per dollar amid weak global and domestic market cues during Friday’s session
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The rupee saw the steepest single-day fall in over three months and breached 89 per US dollar-mark for the first time, trading 78 paise lower at 89.46 against the greenback during the intra-day session on Friday, amid negative cues from domestic as well as global equity markets.
At the interbank foreign exchange market, the rupee opened at 88.67 and plunged 82 paise to hit its lowest-ever intra-day level of 89.50 before trading at 89.40 against the American currency.
On Thursday, the rupee depreciated 20 paise to close at 88.68 against the US dollar.
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