Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Rupee falls vs dollar at close
Last Updated : 23 Sep 2013 11:08:49 PM IST
Indian currency rupee
File photo of Indian currency rupee.

 

The rupee on Monday in Mumbai depreciated by another 37 paise to close at 62.60 against the dollar following good month-end demand for the US currency from importers and a fall in local equities on rate hike concerns.


The rupee opened at 62.55 a dollar from the previous close of 62.23 at the interbank foreign exchange market. It moved in a range of 62.34 and 62.73 before ending at 62.60, a fall of 37 paise or 0.59 per cent. Last Friday, it declined by 46 paise.

"All the major Asian currencies were seen trading weaker against the US dollar and global stock markets were down," said Abhishek Goenka, CEO of India Forex Advisors. "Negative stock markets continued to put pressure on the rupee."


Month-end dollar demand from importers, mainly oil refiners, affected the rupee.

The benchmark S&P BSE Sensex today fell 362.75 points, or 1.79 per cent, on concern the RBI would increase rates further, after Friday's surprise hike, to curb inflation.

"The trading range for the spot USD-INR pair is expected to be within 62.10 to 63.10," said Pramit Brahmbhatt, CEO of Alpari Financial Services (India).

Rupee falls by another 37 paise to 62.60 vs USD on weak stocks at close:

Foreign institutional investors bought a net USD 214.77 million of shares on Friday, according to Sebi data.

US stocks fell last Friday after Federal Reserve Bank of St Louis President James Bullard said the Fed could make a small stimulus reduction at its next meeting in October.

A tapering of the monthly USD 85 billion bond purchases could see an outflow of dollars from emerging markets, including India, as a recovering US economy draws investors.


Department of Economic Affairs Secretary Arvind Mayaram today said there is no room to be fearful of the rupee tanking when the US Fed eases the monetary stimulus because the Indian government has enough ammunition to deal with the situation.

Mayaram said the rupee should ideally be at 58-60 to a dollar, based on the intrinsic value of the domestic currency.

Forward dollar premiums recovered on fresh payments from banks and corporates.

The benchmark six-month forward dollar premium payable in February edged up to 232-237 paise from 232-235 paise previously and far-forward contracts maturing in August improved to 438-443 paise from 433-438 paise.

The RBI fixed the reference rate for the dollar at 62.52 and for the euro at 84.6710.

The rupee dropped to 100.50 against the pound from 99.76 on Friday and to 84.59 per euro from 84.26. It dipped against the Japanese yen to 63.29 per 100 yen from 62.62.
 


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

Its homecoming of sorts for gorgeous former Miss Universe Sushmita Sen as she is set to s

Bollywood actress Sunny Leone was looking stunningly beautiful as she walk the ramp as t

Salman Khan a "national boyfriend" this name has been given to him by Karan Johar, Karan

Aamir Khan is fiercely protective about his movies, but the story of Peekay has been leake

Pakistani actress Saba Qamar's “Kambakht” is set to clash with Salman khan’s upcomin

People still think that Manju from Comedy Nights With Kapil is actually Kapil Sharma's rea

Recently, two Pakistani actresses have made inroads into Bollywood. Humaima Malick will be

These women can put to shame celebrities who boast of having a size zero figure. These wom

Rabiya Khan, the mother of deceased Bollywood actor Jiah Khan, assured the Bombay High Co

Another love lady of Akshay Kumar. Bollywood Khiladi has a long list of love affairs Sta

Bollywood's selfie obsession has caught the fancy of almost all stars in the industry. See

Social networking sites have been flooded by the news how Deepika Padukone wished Happy Bi

When Malaysian Airlines flight MH17 came down after being hit by a missile in east Ukraine

Sunny leone is in a denial mode but the site owners have her signed contract.Sunny isone d

A Malaysia Airlines plane was blown up over Eastern Ukraine by a sophisticated missile bel

We bet you did not know these facts about the birthday girl Priyanka ChopraToday is our de

A new study has claimed that if you sleep in the nude, then you can have a happier relatio

Russian President Vladimir Putin was on target but terrorists by mistakenly shot down Mala

Another conspiracy that is originating from the blasting of the Malaysian airlines flight

With the MeT department warning of heavy showers at various places in Uttarakhand on Satur

LIVE:BY Poll results,Modi led BJP hopes to win
LIVE:BY Poll results,Modi led BJP hopes to win LIVE:BY Poll results,Modi led BJP hopes to win
12:28 IST: AIDUF leading in two, BJP in one in Assam Assembly bypoll
12:27 IST: BJP wrests Basirhat Dakshin Assembly seat while Trinamool Congress retains Chowringhee seat in WB.
12:23 IST: RN Chamling won Rangang-Yangang Assembly seat in Sikkim
Click for more

Deepika was getting cosy with Arjun Kapoor, leaving his boyfriend Ranveer Singh fuming.

Lord Hanuman has managed to get an Aadhaar card made, but there are no takers for it.

Tech giant Google on Monday launched its much-awaited Android One smartphones, priced at R


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.54