Moneycontrol
Mar 17, 2017 12:39 PM IST | Source: PTI

Rupee tumbles 24 paise, stronger equities restrict fall

The rupee had gained 28 paise to close at a fresh 16-month high of 65.41 on Thursday after the US Fed stuck to its stance of a gradual approach on future rate hikes.

Rupee tumbles 24 paise, stronger equities restrict fall

Reversing its 4-day climb, the rupee fell 24 paise to 65.65 against the dollar on Friday as the American currency got some of its lure back among banks and importers.

The dollar's strength overseas weighed, but a higher opening in domestic equities cushioned the impact.

The rupee had gained 28 paise to close at a fresh 16-month high of 65.41 on Thursday after the US Fed stuck to its stance of a gradual approach on future rate hikes.

The Sensex rallied 238.77 points, or 0.80 percent, to 29,824.62 in early part of the session.

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