Scripting its biggest single-day loss this year, the rupee tumbled a whopping 32 paise to end at a fresh three-week low of 64.63 against the resurgent dollar amid frantic demand for the American unit from importers. This is the lowest closing for the domestic currency since April 18.
The relatively strong rupee once again turned shaky on mounting expectations that the Federal Reserve would raise interest rates next month. The forex market will remain closed tomorrow on account of ‘Buddha Purnima’.