Rupee drops 11 paise at 59.83 to the dollar in early trade

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, July 7, 2014, 9:12 [IST]

The rupee fell marginally to 59.83 to the dollar, dropping 11 paise over Friday's close. The currency is expected to remain volatile this week ahead of the Union Budget due on July 10.

Should the Union Budget unveil a series of measures pertaining to FDI in various sectors, the rupee could move up against the dollar on hopes of dollar inflows.

The last one week as seen some gains in the rupee has inflows from foreign funds have been robust ahead of the Union Budget.

The rupee has been one of the best performing currencies in recent times, thanks to a stable government at the centre and hopes of reforms. Check currency rates here

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