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Gujarat Election Results 2017: Rupee Crashes 68 Paises Against US Dollar

Besides rupee, Sensex and Nifty also fell dramatically on neck-to-neck fight between Congress and BJP in Gujarat Assembly Election Results.

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Gujarat Election Results 2017: Rupee Crashes 68 Paises Against US Dollar

The rupee had gained 30 paise to close at a three-month high of 64.04 on Friday


Mumbai: The rupee plunged 68 paise to 64.72 against the dollar on Monday after early trend suggested that the BJP and the Congress are neck and neck in Gujarat Assembly sweepstakes after one hour of counting of votes. The Congress is leading in 7 seats while the BJP is leading in 6 in the Himachal Pradesh Assembly polls as early trends poured in.

Besides, the American currency's strength against other currencies overseas weighed on the domestic unit, traders said. Meanwhile, US President Donald Trump's much-hyped tax cuts moved a step closer to reality.

The rupee had gained 30 paise to close at a fresh three-month high of 64.04 on Friday against the dollar after all exit polls had suggested that the BJP would retain Gujarat and return to power in Himachal Pradesh. The Sensex tumbled 867.34 points, or 2.59 per cent, to 32,595.63 and Nifty slumped 258.45 points, or 2.50 per cent, to 10,074.80 in early trade.

 




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