Rupee Dips to 13-Month Low; Opens Weak at 63.74 to the Dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, December 17, 2014, 9:07 [IST]

The rupee today opened the day lower once again by 21 paise at 63.74, down 21 paise over Tuesday's close.

Global conditions continued to remain weak with US markets closing lower. The rupee had closed at a 13 month low on tuesday and dealers fear that it is just a matter of time before the rupee once again crosses the 64 levels mark.

Foreign fund flows have not supported the rupee with FIIs being consistent sellers. On Tuesday they sold stocks worth Rs 1200 crores in the cash market.

India's trade deficit also widened to a 18-month high putting pressure on the rupee. Gold imports have been rising, though there are hopes that falling crude prices could benefit India immensely. Check Rupee rates here

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