Rupee plunges to 66.16 vs dollar, down 18 paise

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MUMBAI: Hit by month-end dollar demand from importers, the rupee today dropped by another 18 paise against the American currency to close at 66.16, extending losses for the fourth straight day, amid mixed global cues.

Sustained foreign capital outflows also affected the market. Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,330.12 crore yesterday, as per provisional data released by the stock exchanges.

The rupee resumed sharply lower at 66.20 per dollar as against overnight level of 65.98 at the Interbank Foreign Exchange market.

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