Rupee plunges 30 paise to hit two-and-a-half-month low of 55.51

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SummaryEven sustained capital inflows and weak dollar overseas could not able to stem the rupee fall, they added.

dollar and recovery in the Euro. This indicates that there was a genuine demand for the dollar in the market. Going forward, if some positive reforms come out of the ongoing winter session of the parliament, then we might see rupee appreciating in the near term," he added.

The premium for the forward dollar ended steady to easy on stray receipts by exporters.

The benchmark six-month forward dollar premium payable in April settled at its overnight closing level of 141-142 paise.

However, Far-forward contracts maturing in October ended down at 280-1/2-282-1/2 paise from 283-285 paise.

The RBI has fixed the reference rate for the US dollar at 55.3445 and for euro at 71.3665.

The rupee continued its south-bound journey against the pound sterling to end at 88.48 from Thursday's close of 88.07 and also dropped further against the euro to 71.61 from 71.08.

It, however, reacted downwards sharply against the Japanese yen to 67.49 per 100 yen from last close of 66.80.

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