| Date: |
18-06-2013 |
| Subject: |
Indian rupee weakens past 58 ahead of US Fed meeting |
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Mumbai: The Indian rupee on Monday weakened past the 58-mark against the dollar in opening trade.
The partially convertible rupee opened at 58.24 per dollar, down 0.64%, compared with its Monday’s close of 57.87.
At 9.25am, the local currency was trading at 58.41, down 0.93% while India’s benchmark Sensex was trading at 19,246.79 points, down 0.41%.
on Monday, the Reserve Bank of India (RBI) left its key lending rate unchanged.
Market is keenly awaiting US Federal Reserve’s meeting on Wednesday where the US central bank will give guidance on its bond buyback programme. Currency dealers say Fed action will determine the rupee’s further course. If US withdraws its bond buyback programme, rupee may slide further, according to dealers.
Source : livemint.com
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