| Date: |
18-01-2011 |
| Subject: |
Rupee Ends at 7-Week Low of 45.52/53 Vs Dlr |
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Mumbai, (PTI) The Indian rupee today ended atseven-week low of 45.52/53 a dollar after losing 16 paise dueto hectic demand for the US currency
from oil importers whoanticipate crude prices to touch USD 100 a barrel soon.
Dealers in foreign exchange said oil refiners scrambledfor the dollar as they anticipate crude prices to hit USD 100a barrel level soon. Global crude oil was trading above USD 91a barrel in London today.
At the Interbank Foreign Exchange (Forex) market, thedomestic unit opened lower at 45.42/43 a dollar from its lastweekend''s close of 45.36/37.
It later moved in negative terrain throughout the day andtouched the day''s low of 45.6250 before ending at 45.52/53, alevel not seen since November 30, 2010 when it had closedat 45.88/89, displaying a net fall of 0.35 per cent.
Firm dollar overseas too put pressure on the rupee. Thedollar index was up by about 0.3 per cent against a basket ofcurrencies in European market today. Most of the Asiancurrencies too were trading lower against the dollar.
After tumbling after last two-trading sessions by nearly674 points or 3.45 per cent, the Indian benchmark Sensex todayended barely flat.
Foreign Institutional Investors (FIIs) pulled out USD978.76 million in straight eight trading days from equitiessince January 5.
Source : news.oneindia.in
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