For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee drops sharply; breaches 55 levels

|
Rupee drops sharply; breaches 55 levels
The rupee dropped sharply in the interbank forex market trading at 55.21 to the dollar, a drop of 36 paise over Thursday's levels.
 

Banks were buying dollars on behalf of clients, while there was fresh demand for the dollar from oil importers. Weak sentiments across global stock markets also weighed on the rupee. There were fresh concerns over the fiscal cliff in the US, which saw stock indices dropping sharply, which hurt sentiments for the rupee.

The rupee is likely to continue to be under pressure, should worries over the fiscal cliff in the US continue.

GoodReturns.in

Read more about: currency
Story first published: Friday, December 21, 2012, 10:06 [IST]
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