Rupee falls on global currency scare; Hits 3-week low

After two straight weeks of upmove, the rupee went for a toss after renewed global currency turmoil and worsening trade war fears worldwide.

The forex market rattled in a big way and the Indian unit fell by a staggering 23 paise to end at 68.83 against the resurgent US dollar.

It had a free fall from 69 mark to hit a fresh 3-week-low briefly before trimming some of its losses.

The domestic currency swung between high of 68.45 and low of 69.03 in volatile trade.

Ongoing trade war between US and China has made the market nervous and dollar bullish.

The Reserve Bank of India stepped in the foreign exchange market to support rupee on Friday.

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