Money & Banking

Rupee weakens against dollar

Our Bureau Mumbai | Updated on March 15, 2011


The rupee weakened against the dollar as risk investors preferred the safety of the US greenback, said dealers. “The Japanese crisis which seems to be worsening following the nuclear leaks has caused risk aversion due to which investors are flocking to the dollar,” said a forex dealer with a private bank.

The rupee opened at 45.22 and closed at 45.25, against the previous close of 45.06. During the day it touched a low of 45.38. The negative trend in the domestic stock markets is also adding to the negative bias against the rupee, the dealer said. In the overseas market, the dollar was strong against other currencies like euro and pound. The yen was surprisingly strong. In the forward premia market the 12-month premium closed at 6.19 per cent (6.25 per cent).

Published on March 15, 2011

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