Rupee plunges 12p to end at new low of 85.27 to dollar

The rupee weakened on a strong dollar and rising US treasury yields that are at the highest levels in seven months

- PTI

The rupee stayed weak for the third straight session and fell 12 paise to settle at a fresh all-time low of 85.27 against the US dollar on Thursday, amid a strong greenback and rising crude oil prices.

Forex traders said increased month-end as well as year-end dollar demand from importers and fear of an aggressive import tariff by the Donald Trump administration lifted the American currency.

At the interbank foreign exchange, the rupee opened weak at 85.23 and touched the lowest-ever level of 85.28 against the greenback during intraday trade.

The unit finally ended the session at its lifetime low closing level of 85.27 against the dollar, registering a loss of 12 paise from its previous close.