Indian Rupee slips against US Dollar

Business

oi-Monika

By Monika Nihalani

Published: Friday, December 9, 2011, 11:33 [IST]

The rupee slipped by 0.86% against US Dollar deterrent by the depression in local equities and Euro zone on early Friday, connected involvements with European leaders may not be able to mend far-reaching plan at summit later in a day to handle regions maturing debt crisis.

• At 10.44am partially redeemable rupee was at Rs 52.20 per dollar, crisply weaker from Thursday's closing of 51.75/76.
• India's main share index was down 2 percent in early trade on Friday after diving 2.3 percent in the previous session.
• The index of the dollar against six major currencies was at 78.938 points, compared with 78.463 points at the end of the rupee trade on Thursday. The euro was at $1.3318 from $1.3388 previously
• The euro saw hefty losses in Asia on Friday, after the European Central Bank dashed hopes that it will buy up more bonds of debt-laden euro zone states.
• European Leaders all set to adopt new policies of fiscal discipline, Later sentiment worsened when European Central bank crashed hopes that it would serve as lender of last resort and as Germany rejected of issuing common Euro zone bonds.