Rupee all set to breach the 52 mark

Business

oi-Sneha

By Sneha B K

Published: Thursday, April 19, 2012, 11:19 [IST]

The partially convertible Indian rupee dropped 12 paise to Rs 51.90 per dollar on the Interbank Exchange on Thursday and was close to breaching the Rs 52 mark, as the dollar strengthened against major currencies.

A lower opening seen in the domestic equity market weighed on rupee and dollars from FIIs seems to have dried, as can be witnessed by the daily FII fund flows released by SEBI.

Sentiments have also dampened on concerns over the Indian economy on the current account deficit and fiscal deficit. The Indian rupee opened at 51.82 per dollar versus 51.78 yesterday. At 10.35 am IST the rupee was seen trading at RS 51.84 down 8 paise.

Meanwhile, Markets were seen trading down, with the BSE drifting lower by 23 points. The 50-share NSE Nifty was down by 6 points.

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