| Date: |
16-11-2011 |
| Subject: |
Rupee Down 24 paise at Fresh 32-month Low Against U.S. Dollar |
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The Indian rupee fell by 24 paise to a fresh 32-month low of Rs. 50.91 against the U.S. dollar in early trade today amid depreciation of the euro due to the deepening European debt crisis.
In addition, persistent dollar demand from banks and importers and a weak opening in the equity market also put pressure on the Indian rupee.
Dealers said a slide in the euro value, which slipped to a fresh one-month low against the U.S. dollar, and a lower opening in the equity market mainly weighed on the rupee sentiment.
The rupee had lost 37 paise to close at a 32-month low of Rs 50.67/68 against the U.S. currency in yesterday’s trade due to dollar demand from banks and importers amid weak stocks.
Meanwhile, the BSE benchmark Sensex plummeted by 146.22 points, or 0.86 per cent, to 16,736.45 in opening trade today.
Source : thehindu.com
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