Economy

Rupee drops

PTI Mumbai | Updated on January 04, 2011 Published on January 04, 2011

Good dollar demand from banks and corporates in view of firm dollar in New York market mainly affected the rupee value against the dollar.-- K.K. Mustafah   -  Business Line

The rupee dropped by ten paise to Rs 44.80 a dollar in morning trade, on good dollar demand from banks and corporates on the back of higher dollar demand overseas.

At the Interbank Foreign Exchange (forex), the domestic unit opened slightly higher at Rs 44.67/68 a dollar and hovered in a range of 44.80-44.64 a dollar before quoting at Rs 44.74/75 a dollar at 10.30 a.m.

Good dollar demand from banks and corporates in view of firm dollar in New York market mainly affected the rupee value against the dollar, said a forex dealer.





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Published on January 04, 2011
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