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Rupee down on negative global cues

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Rupee down on negative global cues
The partially convertible India rupee slipped 19 paise in morning trade on the Interbank foreign Exchange due to demand for the dollar.

Sentiments dampened after weak US jobs data which rekindled concerns over global economic health. The dollar strengthened against the rupee and other major currencies.

 

The rupee seemed bearish on the back of a disappointing jobs data from the US. Increasing costs on Spanish bonds have also weighed on equity markets, which would eventually put pressure on the rupee.

Weak domestic equity market also weighed more on rupee. The rupee today opened at 51.37 per dollar versus 51.11 on Wednesday. It was not trading on Thursday and Friday on account of Mahaveer Jayanti and Good Friday respectively. At 10.40 am IST rupee was seen trading at Rs 51.30 lower Rs 0.19.

Meanwhile, Markets were seen trading down, with the senses lower by 205 points. The 50-share NSE Nifty down by 68 points.

GoodReturns.in

Read more about: currency dollar
Story first published: Monday, April 9, 2012, 10:49 [IST]
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