Rupee falls sixth day in a row

May 25, 2013 17:29
Rupee falls sixth day in a row

All the week long the value of rupee was depreciating, sometimes with sharp falls while at others it managed to restrict the steeper ones but still descending. The rupee today ended 4 paise lower at fresh six-month low of 55.63 against dollar on sustained demand of US currency from exporters and some banks, amid capital outflows in stocks.

In this week alone, the rupee value fell by 1.36 percent, 75 paise against dollar. Today, rupee commenced slightly lower at 55.61 a dollar from overnight close of 55.59 at the Interbank Foreign Exchange (Forex) market. Thereafter, it dropped to a low of 55.76 on heavy dollar demand from importers.

Yesterday, it had touched over eight-month low of 56.01 but recouped some losses to close in the 55-level zone.

(AW- Anil)

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)