Rupee slides as China worries rise, Ukraine tensions mount

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, March 14, 2014, 9:55 [IST]

The Indian currency was trading lower by 28 paise at 61.45 to the dollar, following weak sentiments across the globe. Fresh worries over the crisis in Ukraine and poor data from China and concerns over its growth weighed on equity and currency sentiments in India.

Dealers say for the first time in weeks the currency showed signs of losing ground. In the last several months the Indian currency has been remarkably resilient, though today's fall is still just about 0.50 per cent.

India has been one of the best emerging market currencies, thanks to falling current account deficit and fast improving fundamentals. The Indian rupee has gained from a historic low of 68.81 to the current levels of 61.45 to the dollar. Check rupee rates here

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