Forex market sentiment turned highly volatile and reacted vehemently to some key Budget announcements triggering panic dollar buying by corporates and importers
The Indian rupee suffered an intense plunge and closed at a near two-week low of 64.06 against the US dollar after the government announced long-term capital gains (LTCG) tax on equities and widened its fiscal deficit target while unveiling the Union Budget.
Forex market sentiment turned highly volatile and reacted vehemently to some key Budget announcements triggering panic dollar buying by corporates and importers.
The home currency settled the week with a sharp 51 paise, or 0.80 percent.
