The rupee fell for a third straight day on Wednesday to settle at Rs158.42 against the dollar in the interbank market.
The US dollar crossed the Rs158 barrier in the interbank market after nearly six months of maintaining its position below that mark.
During today’s trading, the greenback gained 98 paisas against the rupee and closed at Rs158.42.
In the last three days, the price of the dollar has increased by Rs4.05 (2.6%).
On Tuesday, the rupee had fallen for a second straight session and settled at Rs157.44/dollar in the interbank market, dealers said.
While on Monday, the rupee had depreciated by 2.34 against the greenback after global stock markets fell sharply after a massive slump in oil prices and spread of coronavirus.