The Indian rupee fell against euro on Thursday due to the weak domestic equity market, the high inflation rate and on speculation that the Reserve Bank of India might raise the policy rates in order to control inflation. Rupee futures for December 2011 contract falls as much as 0.29 paise at Rs. 70.5750 per euro on the National Stock Exchange (NSE) at 11.54am.
At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.2988 per euro (USD depreciated by 0.10 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5440 per pound (USD depreciated by 0.17 per cent against GBP) at 11.56 AM today.
S&P CNX NIFTY, at NSE, was trading at 4,699.60, down by 1.34 per cent, after opening at 4,412.80 against the previous closing of 4,763.25. It touched the intra-day low of 4,673.85 till the trading. (At 11.49 AM today).
At NSE, EURINR for December 2011 contract traded at Rs. 70.5750 per euro, rupee depreciated 0.29 paise against euro, after opening at Rs. 70.7900 against the previous closing price of Rs. 70.2850. Rupee fell to Rs. 70.4150 with a business volume of 6206 lots till the trading (At 11.54 AM today).