| Date: |
31-10-2011 |
| Subject: |
Rupee Falls on Weak Shares, Dollar Gains |
|
MUMBAI: Rupee weakened on Monday after posting its biggest single session gain in nearly 11 months in the last session on the back negative local shares and dollar gains overseas.
At 9:50 a.m., the partially convertible rupee was at 48.8600/8650 per dollar, against its previous close of 48.7550/7650.
The dollar spiked to a three-month high against the yen on Monday after Japan intervened in the currency markets to stem the yen's rise.
Indian shares fell more than 0.5 per cent in early trade on Monday as investors turned cautious after four straight sessions of gains and weak sentiment in other Asian markets.
The euro was at $1.4000, compared with $1.4148 at the end of local trade on Friday, while the index of the dollar against six major currencies was at 76.192 points versus 75.079 points.
Source : economictimes.indiatimes.com
|