Rupee continues losing streak; falls 9 paise

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, December 24, 2012, 10:36 [IST]

The rupee continued to lose ground today falling 9 paise to trade at 55.15 against the dollar. The rupee has been consistently falling and has failed to recover in the last few weeks despite a surge in equities.

Month end dollar demand for crude from oil importers is likely to put further pressure on the rupee. After rising sharply following a series of reform measures by the government, the rupee has failed to build on the initial momentum and continues to remain weak.

The forex market will remain closed on Tuesday on account of Christmas holidays.

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