Brics and straws

Brics and straws

Brics Bank has its own limitations, and let us hope it will...
Much ado about execution

Much ado about execution

Effective delivery must be brought to the centre of policy-making...

Rupee drops by 30 paise vs US dollar in late morning

Dec 21 2012, 11:37 IST
Comments 0
The rupee lost 35 paise to trade at nearly one-month low of 55.20 against the US dollar in early trade. (Reuters) The rupee lost 35 paise to trade at nearly one-month low of 55.20 against the US dollar in early trade. (Reuters)
SummaryThe rupee lost 35 paise to trade at nearly one-month low of 55.20 against the US dollar in early trade.

The Indian rupee dropped by 30 paise to 55.15 against the American currency in the late morning trade on good dollar demand from banks and importers in view of higher dollar overseas amdist fall in equity market.

The rupee resumed lower at 55.10 per dollar as against the last closing level of 54.85 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 55.25 per dollar before quoting at 55.15 per dollar at 1040 hrs.

It hovered in a range of 55.03 per dollar and 55.25 per dollar during the morning trade.

In New York market the US dollar recovered from earlier declines yesterday reclaiming its highest level against the Japanese yen since April 2011 after the Bank of Japan delivered an expected increase in the size of its quantitative-easing programme.

The Indian benchmark Sensex dropped by 95 points or 0.49 pct to 19,358.55 as Asian stocks fell after US House Republican leaders cancelled a planned vote that would permit higher taxes amid stalled budget talks.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...