The rupee extended losses for fourth straight day on Friday and fell by another 15 paise to 62.29 against the dollar in early trade the Interbank Foreign Exchange market following strengthening of American unit overseas.
Dealers attributed the rupee's fall to dollar rising to five-year high against the yen overseas after the US Federal Reserve's decision to start tapering its monetary stimulus programme.
They said, however, a higher opening in the domestic equity market capped the fall.
The rupee had lost five paise in Thursday's trade to close at 62.14, the lowest level in more than two weeks, amid weakness in local stocks after the US Federal Reserve said it would cut its bond purchases.
Meanwhile, the benchmark BSE Sensex rose by 90 points in morning trade on Friday.
With PTI inputs
For more news from Business Today, follow us on Twitter @bt_india and on Facebook at facebook.com/BusinessToday
via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE90rpkAmymZmfzVD_G7U7dppHSew&url=http://businesstoday.intoday.in/story/indian-rupee-vs-us-dollar-at-forex-markets-dec-20-2013/1/201652.html
Put the internet to work for you.
0 comments:
Post a Comment