Rupee Steady Even as Stocks Crash, Crude Tumbles

Posted By:
Subscribe to GoodReturns

The rupee showed remarkable resilience in trade today not crashing along with the stock markets and crude oil. The rupee was trading marginally weak by six paise at 63.35, even as the Sensex crashed a huge 561 points.

Rupee Steady Even as Stocks Crash, Crude Tumbles
Dealers say that dollar inflows from exporters helped support the rupee and there was no large scale demand from importers for the dollar.

Today's resilience of the rupee took markets by surprise given the fact that the euro has been weak against the dollar.

Meanwhile, Brent Crude slumped to a new low of close to $52 a barrel. This triggered large scale selling pressure across global markets. The Sensex was down as much as 600 points with European markets slated to open weak once again. Check rupee rates here

GoodReturns.in

Read more about: currency, sensex, crude oil
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'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?