Rupee hits new 30-month low at 68.72, down 15 paise

The rupee on Thursday plunged to a fresh 30-month low of 68.72, dropping 15 paise against the US dollar on fresh demand for the American currency from banks and importers in view of persistent fall in domestic equity market amid foreign capital outflows.

Strong month-end dollar demand from importers, mainly from oil refiners, affected the rupee value against the dollar, a forex dealer said.

The domestic unit resumed higher at 68.47 as against Wednesday's closing level of 68.57 per dollar at the Interbank Foreign Exchange (Forex) market on initial dollar selling by banks and exporters.

However, it dropped afterwards to 68.77 on fag-end dollar demand before concluding at a fresh 30-month low of 68.72, showing a loss of 15 paise or 0.22 per cent.

The rupee had hit its all-time closing low of 68.80 per dollar on August 28, 2013 after touching 68.85 during the intra-day trade on the same day. It hovered in a range of 68.47 and 68.77 during the day.