Rupee Drops 18 Paise Against US Dollar as Fed Exits QE3

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The rupee saw a sharp dip of 18 paise in early trade as the US Federal Reserve announced a complete exit to its asset purchase programme, more popularly known as QE3.

Rupee Drops 18 Paise Against US Dollar as Fed Exits QE3
The currency was last trading at 61.53 to the dollar, as against its previous close of 61.35.

There is a further possibility that the rupee may fall, as equity markets are expected to open weak. The end of QE3 by the US Federal Reserve would be less liquidity in the global financial system, which has been flush with money thanks to the Fed's Asset Purchase programme.  Check rupee rates here

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