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Rupee drops on month-end dollar demand

By Religare

The Indian rupee depreciated by 0.06 paise to Rs 63.1050 against the US dollar on Monday as a result of month-end dollar demand from importers. Besides, a weak opening in the domestic equity market also weighed on the local unit. Moreover, rupee is seen weakening ahead of the US Federal Open Market Committee (FOMC) meeting later this week. However, weakness in the US dollar against major world currencies in global market limited rupee fall. At MCXSX, USDINR for July 2015 contract traded at Rs. 63.1050 per dollar, rupee depreciated by 0.06 paise, after opening at Rs. 63.1500 against the previous closing price of Rs. 63.0650. Rupee declined to Rs. 63.1500 per dollar with a business volume of 633415 lots till the trading. (At 12.20 PM today).


At the Chicago Mercantile Exchange (CME), EURUSD future traded at US$1.1027 per euro (USD depreciated by 0.43 per cent against EUR) and GBPUSD future traded at US$1.5533 per pound (USD depreciated by 0.15 per cent against GBP) (At 12.15 PM today).

S&P CNX NIFTY, at NSE, was trading at 8,426.40, down by 1.12 per cent, after opening at 8,492.10 against the previous closing of 8,521.55. It touched the intra-day low of 8,423.30 till the trading. (At 12.15 PM today).

Story first published: Monday, July 27, 2015, 23:00 [IST]
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