Rupee Falls 34 Paise Hits 2-Yr Low Against Dollar
Published on September 14, 2011 by Robert · No Comments
Rupee fall 34 paise is almost two years of low U.S. dollar to 47.93 rupees in a rapid exchange interbank foreign trade today, the dollar strengthened against other major foreign competitors.
Dealers attributed the rupee fell to levels not seen since September 2009 an application for the strong dollar by importers and banks and the dollar’s gains against other currencies.
They said the continued decline of the capital market was also pressured the Indian rupee.
Yesterday, the rupee had fallen by 37 paise to close nearly 16-month low of Rs 47.59/60 against the U.S. currency on persistent dollar demand from importers and banks.
At the same time, the Bombay Stock Exchange Sensex fell 71.30 points of reference, or 0.44 percent, at 16,396.14 in opening trade today.
Tags: Bombay Stock Exchange, BSE Sensex, Business, Exchange, India, Indian rupee, Mumbai, United States dollar
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