For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee depreciates 38 paise against US Dollar

By Religare
|

The Indian Rupee depreciated by 0.38 paise to Rs 66.84 against the US dollar on Monday following firm dollar demand from banks and importers.

The Indian Rupee opened sharply lower at 66.57 per dollar against the previous closing level of 66.46 at the Interbank Foreign Exchange (Forex) market due to the negative sentiment in European and US stock markets.

It dipped further to 66.84 at 14.40 pm local time. The rupee was hovering in the range of 66.57 and 66.79 during the morning deals.

 

According to dealers, volatile domestic equities coupled with higher dollar overseas were the reasons for the weakening of rupee.

The dealers further added that the USD-INR currency pair would continue to get influenced by global forex and domestic equity moves and the exporters are expected to hedge their US dollar receivables on upticks towards 66.80 per dollar.

The Indian Rupee is expected to trade in the range of 66.35-66.85 per dollar for the day.

Story first published: Monday, September 7, 2015, 23:00 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more