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Rupee trades 40 paise lower despite govt measures to boost rupee

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Rupee trades 40 paise lower despite govt measures
INR
69.725 US Dollar
The rupee opened lower by 40 paise at 60.80 despite a host of possible measures indicated by the government to help prevent a further slide in the rupee.
 

The currency was last trading at 60.80 paise after having almost breached its lifetime low on Wednesday.

The government on Wednesday indicated a slew of possible measures to prop up the rupee. The government said it was looking at the possibility of making it easy for companies to raise money abroad and also asking Indian government owned firms to raise money abroad.

The Commerce Ministry also announced measures to boost exports.

However, dealers say that the rupee may continue to weaken despite the RBI and government measures, as the economic fundamentals continue to remain weak.

GoodReturns.in

Read more about: dollar
Story first published: Thursday, August 1, 2013, 9:11 [IST]
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