Rupee snaps winning streak; drops 15 paise to trade at 54.51

Posted by:
Published: Wednesday, July 4, 2012, 9:28 [IST]
 
Share this on your social network:
   Facebook Twitter Google+    Comments Mail

Rupee snaps winning streak; drops 15 paise to trade at 54.51

The rupee lost momentum today, dropping 15 paise against the dollar to trade at 54.51. The rupee has been rising sharply over the last two days and today's dip is more of a temporary aberration say analysts and forex dealers.

The rupee has been rising steadily as penchant for riskier assets returns. Equities have rebounded sharply in the last one week and the rupee has followed the strong momentum in equities. Dealers say that the rupee could continue to gain on positive sentiments across the globe.

The euro too has recovered against the dollar. Meanwhile, the Sensex was up almost 50 points.

GoodReturns.in

Topics: currency
Write Comments

Please read our comments policy before posting

Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
Goodreturns iPad App
Goodreturns iPad App
Download GoodReturns iPad App and enjoy it. Learn more about Oneindia GoodReturns on the App Store.
Download Goodreturns iPad App