Rupee loses ground; drops below 54 to the dollar

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
     Rupee loses ground; drops below 54 to the dollar
    INR
    71.211 US Dollar
    The rupee fell below the 54 mark once again, as commodities including gold rallied. The rupee was last trading at 54.14, a drop of 17 paise over last week's closing.
     

    Demand from crude oil importers was one of the reasons for today's drop dealers say. Last week the rupee had rallied passed the 54 mark for the first time in many weeks, as a fall in crude oil and gold it was believed would help control India's current account deficit, which has surged to record levels.

    Though India's stock markets performed remarkably well last year, the rupee did not gain much as rising imports curbed gains.

    GoodReturns.in

    Read more about: dollar
    Story first published: Monday, April 22, 2013, 12:23 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    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