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Rupee falls 31 paise against US dollar

By Religare

The Indian rupee depreciated by 0.31 paise to Rs 65.3425 against the US dollar on Monday as a result of increased demand for the US currency from importers and a weak trend in the domestic equity market in early trade. Further, appreciation of the American currency overseas also weakened sentiment in the local unit. Sentiment weakened further due to unsupportive economic data. Figures showed that merchandise exports contracted for the eighth month running in July, registering a 10.3 per cent drop over last year. The trade deficit widened to $12.8 billion in July from $10.8 billion in June, while mports fell 10.3 per cent to $35.95 billion while exports came in at $23.1 billion. At MCXSX, USDINR for August 2015 contract traded at Rs. 65.3425 per dollar, rupee depreciated by 0.31 paise, after opening at Rs. 65.2750 against the previous closing price of Rs. 65.1425. Rupee declined to Rs. 65.4225 per dollar with a business volume of 526961 lots till the trading. (At 12.30 PM today).


At the Chicago Mercantile Exchange (CME), EURUSD future traded at US$1.1100 per euro (USD appreciated by 0.13 per cent against EUR) and GBPUSD future traded at US$1.5673 per pound (USD depreciated by 0.14 per cent against GBP) (At 12.30 PM today).

S&P CNX NIFTY, at NSE, was trading at 8,480.50, down by 0.45 per cent, after opening at 8,530.50 against the previous closing of 8,518.55. It touched the intra-day low of 8,428.05 till the trading. (At 12.30 PM today).

Story first published: Monday, August 17, 2015, 23:00 [IST]
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