For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee opens weak again; drops 24 paise

|
 Rupee opens weak again; drops 24 paise
INR
69.659 US Dollar
The rupee opened weak again, hitting 59.58 against the dollar, a drop of 24 paise over Wednesday's close.
 

On Wednesday the rupee showed signs of weakness despite RBI actions to increase the MSF requirements for banks. Dealers are now worried that even the latest RBI actions have had very little impact to push the rupee higher.

Over the course of the year, sustained foreign flows help keep the rupee from falling, however, since foreign funds have withdrawn money in the last one month the rupee has seen a sharp fall.

Analysts fear that any hints of withdrawal of quantitative easing in the US could see the rupee tumbling.

GoodReturns.in

Read more about: dollar
Story first published: Thursday, July 18, 2013, 9:14 [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

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