Weak domestic bourses led to fall in rupee against US dollar

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Rupee loses against US dollar
The Indian rupee fell against US dollar on Thursday due to appreciation of the US dollar against other major rivals currencies globally and a weak trend in the domestic equity market.

Rupee future for October 2011 contract fell as much as 0.56 paise to Rs. 49.8125 per dollar on the National Stock Exchange (NSE) at 11.16am.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3697 per euro (USD appreciated by 0.30 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5708 per pound (USD appreciated by 0.28 per cent against GBP) at 11.32 AM today.

S&P CNX NIFTY, at NSE, traded at 5,047.65, down by 1.78 per cent, after opening at 5,086.55 against the previous closing of 5,139.15. It touched the intra-day low of 5,091.30 till the trading. (At 11.18 AM today).

At NSE, USDINR for October 2011 contract traded at Rs. 49.8125 per dollar, rupee depreciated by 0.56 paise, after opening at Rs. 49.4350 against the previous closing price of Rs.49.2450. It fell to Rs. 49.4325 per dollar with a business volume of 1105407 lots till the trading. (At 11.16 AM today).

Read more about: currency, dollar, futures
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