Rupee Hits 9 Month Low; Trades at 62.18 to the Dollar

Posted By:
Subscribe to GoodReturns

The rupee today hit a nine month low of 62.22 to the dollar, the lowest level seen since Feb 2014. The currency was last trading at Rs 62.18 to the dollar.

 Rupee Hits 9 Month Low; Trades at 62.18 to the Dollar
The sharp movement of the currency has now left investors worried that there could be fresh restrictions on imports, including gold loans.

It may also lead to an acceleration in inflation should petrol prices be hiked due to depreciation in the rupee.

Very few analysts had expected the rupee to sharply depreciate beyond the 62 levels. This was largely on account of the strong dollar inflows through foreign funds in India. Check rupee rates here

GoodReturns.in

Read more about: dollar
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC