Rupee drops by 8 paise against dollar

By Super
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Rupee drops by 8 paise against dollar
    INR
    71.934 US Dollar
    The Indian rupee dropped by eight paise to 55.03 against the American currency in the late morning trade on month-end dollar demand from importers and banks.
     

    The rupee resumed lower at 55.07 per dollar as against the Monday's close of 54.95 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 54.95 per dollar and 55.08 per dollar before quoting at 55.03 per dollar at 1045 hrs. Fresh month-end dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar, a forex dealer said. Oil prices were up in post-Christmas Asian trade today as traders warily eyed the soon-to-resume US budget talks on a deal to avert the fiscal cliff, analysts said.

    New York's main contract, light sweet crude for delivery in February rose 46 cents to USD 89.07 a barrel. Meanwhile, the Indian benchmark Sensex moved up by 45 points or 0.23 pct to 19,300.29 at 1055hrs.

    PTI

    Read more about: currency
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    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