Rupee down 19 Paise against US Dollar

Others 690 views 2 replies

RAMESH KUMAR VERMA

CS PURSUING

43853 Points Posted on 15 November 2010

Rupee down 19 Paise against US Dollar

Rupee depreciated by 19 paise to trade at an almost six-week low of Rs 44.99 against the US dollar in the early trade today at the Interbank Foreign Exchange, as the greenback firmed up against major currencies.

Dollar demand from importers and weak sentiment in the stock markets also weighed heavy on the rupee.

Forex traders said weakness in other currencies against the dollar and a lower opening on domestic bourses mainly put pressure on the rupee.

Rupee ended with a steep fall of 49 paise at Rs 44.80/81 against the dollar in the previous session on Friday following sluggish equities amid a good demand for the US currency.

Meanwhile, the BSE benchmark Sens*x fell by 50 points to 20,106.89 in the opening trade

Source: outlookindia.com

Replies (2)

Guest

JSW Energy: Commissioned Rajwest plant, Karnataka plant reported PLF of 100% says Motilal oswal

Ramalingam K

Founder & Director - Holistic Investment

21077 Points Posted on 13 May 2014

The Fall and Rise of the Indian Rupee

Unlike Humpty Dumpty, Rupee was not exactly sitting on a wall when it fell. However, the aftermath of the fall was somewhat similar in both cases as the ‘king’s men’ (the government) were at a loss as to how to put them back on track. Ultimately though, the Rupee has had better luck than that of Humpty Dumpty as it has managed to get timely attention from the doctor (RBI governor) which led to its gaining a lifeline.

https://holisticinvestment.in/blog/fall-and-rise-indian-rupee/#

Regards

Ramalingam K, MBA, CFP,

Director and Chief Financial Planner,

Holistic Investment Planners

“Best Performing Financial Advisor Award” Winners from CNBC TV18

www.holisticinvestment.in

(Follow us on):-

https://www.facebook.com/holisticinvestmentplanners