Rupee ends at 2-mth low of 54.88
India's exports in October contracted 1.63 per cent for the sixth month in a row to USD 23.2 billion while imports grew by 7.37 per cent to USD 44.2 billion.
Meanwhile, the Indian stock market benchmark Sensex today ended the Samvat year 2068 on a slightly bearish note, down 13.34 points at 18,670.34.
The premium for the forward dollar remained weak on consistent receipts by exporters.
The benchmark six-month forward dollar premium payable in April declined to 149-1/2-151-1/2 paise from 153-155 paise last Friday.
Far-forward contracts maturing in October also settled weak at 287-289 paise from 292-294 paise.
The RBI has fixed the reference rate for the US dollar at 54.9340 and for euro at 69.9335.
The rupee recovered against the pound sterling to end at 87.16 from previous close of 87.33. It also edged up against the Japanese yen to 69.08 per 100 yen from 69.09.
The rupee, however, dropped further against the euro to 69.83 from last close of 69.61.
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