You need more than Rs 50 to buy a Dollar

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You need more than Rs 50 to buy a Dollar
The Indian Rupee fell in domestic trade against US Dollar on Friday and hit a fresh low by crossing Rs 50 a mark for the first time since May 2009.

At 12:07 pm IST, the Rupee in the domestic currency futures market on the NSE was seen trading at 50.17/18 against US Dollar.

Weak opening of domestic bourses displayed a grim outlook about the economy which resulted into rupee losing against a dollar.

Currency traders are pessimistic about the performance of the Indian companies seeing the latest inflation figures.

Food inflation stood at 10.60% for the week ended October 8.

RBI may hike key policy rates once again to tame inflation which may hurt the profitability of Indian companies with the rising borrowing cost.

The Indian currency has declined 10.8% this year, as per the data available with Bloomberg.

Read more about: currency, dollar, inflation, rbi
Story first published: Friday, October 21, 2011, 12:21 [IST]
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