Rupee slips against US dollar

The Indian rupee fell against US dollar on Friday as dollar demand from oil importers for month-end payments grew stronger and as domestic equities turned choppy. RBI chief's negative growth outlook and CLSA downgrade of India's growth rate to 6.7% in FY 12 put pressure on INR and foreign investor put money in safer place.

The absence of risk appetite across the globe also influenced the prices. Rupee future for December 2011 contract falls as much as 0.01 paise to Rs. 52.7625 per dollar on the National Stock Exchange (NSE) at 12.11pm.

At the Chicago Mercantile Exchange (CME), EURUSD future for March 2012 contract traded at US$1.3084 per euro (USD depreciated by 0.19 per cent against EUR) and GBPUSD future for March 2012 contract traded at US$1.5673 per pound (USD depreciated by 0.03 per cent against GBP) at 12.15 PM today.

S&P CNX NIFTY, at NSE, was trading at 4,742.40, up by 0.19 per cent, after opening at 4,763.20 against the previous closing of 4,733.85. It touched the intra-day high of 4,763.45 till the trading. (At 12.09 PM today).

At NSE, USDINR for December 2011 contract traded at Rs. 52.7625 per dollar, rupee depreciated by 0.01 paise, after opening at Rs. 52.6975 against the previous closing price of Rs. 52.7450. It fell to Rs. 52.6650 per dollar with a business volume of 368274 lots till the trading. (At 12.11 PM today).

Read more about: currency, dollar
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