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Rupee maintains volatile run; breaches 51

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Rupee maintains volatile run; breaches 51
The rupee continued to exhibit volatility with the currency breaching the 51 mark once again, after Tuesday's sharp recovery.

The rupee weakened and was seen trading at 51.03 to the dollar as weak stocks contributed to the downfall of the rupee. Markets and rupee generally tend to move in the same direction.

 

Market sentiments were adversely affected following reports that the minutes of the Open Market Committee Report did not give any indication of quantitative easing 3 (QE3). The QE3 easing would have added to fresh liquidity in the system and sparked a rally in commodities.

GoodReturns.in

Read more about: dollar
Story first published: Wednesday, April 4, 2012, 11:41 [IST]
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