Rupee falls for 7th day to end at 11-week low

| Updated on August 10, 2011

The rupee fell for the seventh session in a row today closing down by 5 paise at an 11-week low against the dollar as strong demand for the US currency washed out early gains, despite smart recovery in stock markets.

At the Interbank Foreign Exchange (Forex) market, the rupee ended at 45.25/26, a loss of 5 paise over last close.

The domestic currency opened strong at 45.01/02 a dollar and touched a high of 44.95 on strong jump in equities.

However, sustained dollar demand from importers, mainly oil refiners, in the later part of the day weighed on the sentiment and the rupee fell back to a low of 45.29 before closing at 45.25/26, dealers said.

Published on August 10, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like