Comments
The rupee failed to maintain early gains and slipped 18 paise to 51.35 against the American currency on fresh dollar demand from importers amid weak equity markets.
The rupee resumed slightly higher at 51.15/16 per dollar at the Interbank Foreign Exchange (Forex) market against the last weekend’s level of 51.17/18 per dollar but declined immediately to 51.35 per dollar before quoting at 51.24/25 per dollar at 10.30 a.m.
The domestic currency hovered in a range of 51.05 per dollar and 51.35 per dollar during the morning trade.
Month-end dollar demand from importers mainly from oil- refiners mainly affected the rupee value against the dollar, a forex dealer said.
Sharp fall in equity market is another factor behind fall in the rupee value.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.