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Rupee drops 30 paise against US dollar

By Religare

The Indian rupee depreciated by 0.30 paise to Rs 65.5475 against the US dollar on Thursday on the back of consistent demand for the greenback from importers and State-run banks and as Asian currencies slumped over concerns of yuan devaluation. Further, a lower opening at the domestic equity market also weakened sentiment in the local unit. The turbulence in the currency market as the Chinese central bank linked the yuan reference rate to the market saw the rupee hit a low of 65 against the dollar last week. While the sharp decline in the Wholesale Price Index (WPI) inflation to minus 4.05 per cent provided some respite to the currency on Friday, the positive impact proved to be short-lived as the weak trade deficit data exerted pressure on the rupee once again. At MCXSX, USDINR for August 2015 contract traded at Rs. 65.5475 per dollar, rupee depreciated by 0.30 paise, after opening at Rs. 65.2925 against the previous closing price of Rs. 65.3525. Rupee declined to Rs. 65.5900 per dollar with a business volume of 1326269 lots till the trading. (At 3.21 PM today)


At the Chicago Mercantile Exchange (CME), EURUSD future traded at US$1.1164 per euro (USD depreciated by 0.36 per cent against EUR) and GBPUSD future traded at US$1.5618 per pound (USD appreciated by 0.41 per cent against GBP) (At 3.19 PM today).

S&P CNX NIFTY, at NSE, was trading at 8,373.40, down by 1.43 per cent, after opening at 8,471.05 against the previous closing of 8,495.15. It touched the intra-day low of 8,359.75 till the trading. (At 3.15 PM today).

Story first published: Thursday, August 20, 2015, 23:00 [IST]
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