Rupee weakens again, breaches 64
Traders also said importer demand for dollars was pressuring the rupee although they expected that to wane through the session, allowing some recovery in the domestic currency.
MUMBAI: The rupee dropped sharply to 64.20 per dollar in late morning trade on Monday on good demand for the US currency from banks and importers due to rise in crude oil prices.
The rupee resumed lower at 63.65 per dollar as against the last weekend's level of 63.20 at the Interbank Foreign Exchange(Forex) Market and dropped further to 64.20 at 1040 hours, showing a fall of 100 paise or 1.58 per cent.
Oil prices climbed in Asian trade today as disappointing US housing data tempered expectations of stimulus tapering by the Federal Reserve.
The rupee resumed lower at 63.65 per dollar as against the last weekend's level of 63.20 at the Interbank Foreign Exchange(Forex) Market and dropped further to 64.20 at 1040 hours, showing a fall of 100 paise or 1.58 per cent.
Oil prices climbed in Asian trade today as disappointing US housing data tempered expectations of stimulus tapering by the Federal Reserve.
R.K. Tomar
No comments:
Post a Comment