SME Times News Bureau | 29 Sep, 2016
The rupee on Thursday tumbled to its lowest level in the last one week after the army announced that it had carried out "surgical strikes" on terror camps across the Line of Control with Pakistan.
The Indian currency, which opened at 66.44 to a US dollar, had already depreciated in the initial hours of the day's trade in line with the weakness in Asian currencies.
The sharp fall occurred around 1.30 p.m. when the rupee depreciated to 66.95-96 to a dollar. This level was last seen on September 22.
However, the Indian currency bounced back marginally to 66.85 to a greenback before specualtive selling dragged it lower to 66.89 at 2.40 p.m.
