Rupee tumbles 30 paise to 75.08/USD

Mumbai: Registering its third straight session of loss, the Indian rupee on Thursday depreciated by 30 paise to close at 75.08 (provisional) against the US dollar, tracking the strength of the American currency after a hawkish US Fed policy stance.

Forex traders said muted domestic equities, sustained foreign fund outflows and firm crude oil prices also weighed on the local unit. At the interbank foreign exchange (forex) market, the local currency opened at 75.18 against the greenback and witnessed an intra-day high of 75.07 and a low of 75.31 during the session.

The rupee finally settled at 75.08, down by 30 paise over its previous close. On Tuesday, the rupee had closed at 74.78 against the US dollar. The forex and equity markets were closed on Wednesday on account of Republic Day.