For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee drops further against dollar, down 20 paise

By Super
|
Rupee drops further against dollar, down 20 paise
The Rupee dropped by 20 paise to 54.75 against the American currency in late morning trade today on fresh dollar demand from banks and importers despite persistent capital inflows in the equity market. The Indian rupee resumed lower at 54.67 per dollar as against the last closing level of 54.55 at the Interbank Foreign Exchange (Forex) Market.
 

It dropped further to a low of 54.83 before quoting 54.75 per dollar at 1050 hrs. Fresh dollar demand from banks and importers mainly affected rupee value against the dollar, a forex dealer said. In New York market, the US dollar pared losses yesterday amid reports that cut into optimism that Washington lawmakers are close to a deal to avoid going over the fiscal cliff. The euro hit levels against the dollar last seen in April and notched a 17-month high against Japanese yen after a closely watched gauge of German business confidence rose more than expected in December. Meanwhile, the Indian benchmark BSE-30 index, Sensex, dropped by 115 points or 0.59 per cent to 19,361.81 at 1100 hrs.

PTI

Read more about: currency
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more