MUMBAI: The Indian rupee posted its biggest single-day fall in more than two months on Tuesday, dropping for a third straight session, weighed down by continued profit-taking in domestic shares and month-end dollar demand from importers.
The partially convertible rupee closed at 59.04/05 per dollar compared to 58.71/72 on Monday. It moved in a wide 58.79 to 59.11 band during the session. The unit fell 0.56 percent on the day, its biggest single-day fall since March 20, when the unit had dropped 0.6 percent.
The rupee fell as India’s NSE index fell for a second consecutive session as investors continued to book profits in recent outperformers such as State Bank of India.
After Narendra Modi was sworn in as India's prime minister late on Monday, investors are now focusing on his policies.
India rupee sees worst fall in over two months
India rupee sees worst fall in over two months
