Money & Banking

Rupee sheds 18 paise against dollar

| | Updated on: Aug 02, 2011

The rupee fell 18 paise to Rs 44.25 per US dollar today on fresh demand for the American currency from banks and importers amid weakness in the domestic equity market.

At the Interbank Forex Exchange market, the rupee resumed lower at Rs 44.20/21 per dollar against the previous close of Rs 44.07/08 per dollar and moved down further to Rs 44.25 at 10.30 am.

The domestic unit moved in a range between Rs 44.17 and Rs 44.25 per dollar in the morning deals.

Forex dealers said fresh dollar demand from banks and importers as well as oil refiners and a lower opening in the domestic stock market mainly put pressure on the rupee.

In New York, the dollar extended its losses to fall to a record low against the Swiss franc and within a hair of its all-time low versus the Japanese yen yesterday after surprisingly weak US manufacturing data prompted investors to abandon stocks and shift into assets considered safer.

Published on March 12, 2018

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