Rupee falls on weak equities

Business

oi-Sneha

By Sneha B K

Published: Wednesday, April 3, 2013, 14:31 [IST]

The partially convertible Indian rupee slipped Rs 0.14 paise against dollar today on Interbank Foreign Exchange.

Weak equities contributed to the fall of the rupee. Rupee felt the pressure as dollar strengthened against euro and yen.

The rupee has been dropping on account widening current account deficit.

In fact, the widening current account deficit could send the rupee reach worrying levels. The Current Account Deficit hit historic high of 6.7 percent of GDP for the December quarter.

While the rupee could weaken but analysts do not expect it to breach the 55 levels anytime soon.

At 2.25 pm IST, the rupee was seen trading at 54.36 lower by 10 paise.

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