The rupee extended its losing run for the second straight day, falling by another 15 paise to end at a near 7-month low of 65.64 against the U.S. dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions.
Headwinds in the form of consistent widening in the trade deficit accompanied by portfolio outflows amid unsupportive global factors kept overall sentiment highly bearish.
Country’s trade deficit hit $13.69 billion in March, climbing from $11.98 billion in February. This is the weakest close for rupee since September 27, 2017 when it had ended at 65.72.
