For Quick Alerts
For Daily Alerts

Rupee drops 5 paise; trades at 53.86 to the dollar

Rupee drops 5 paise; trades at 53.86 to the dollar
The rupee dropped marginally in trade by 5 paise against the dollar and was trading at 53.86. The currency had gained sharply in the last few weeks following a slew of reform measures announced by the government including a hike in diesel prices.

Last year the rupee was one of the worst performers, thanks to a rising current account deficit. This was despite foreign fund flows into the equity markets surging.

Dealers are expecting the rupee to remain volatile through the year and closely move in tandem with economic data.

Read more about: currency
Story first published: Wednesday, January 23, 2013, 10:41 [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