​​​
  1. Indian rupee tumbles 31 paise to over 2 year low at 65.31 against US dollar

Indian rupee tumbles 31 paise to over 2 year low at 65.31 against US dollar

Foreign portfolio investors (FPIs) were net buyers to the tune of Rs 403.76 crore on Friday, as per provisional data released by the stock exchanges.

By: | Mumbai | Updated: August 17, 2015 7:49 PM
Indian rupee vs US dollar

Dealers attributed the rupee’s fall to increased demand for the US currency from importers and a weak trend in the domestic equity market in early trade.

Foreign portfolio investors (FPIs) were net buyers to the tune of Rs 403.76 crore on Friday, as per provisional data released by the stock exchanges.

Veracity Group CEO Pramit Brahmbhatt said, “Rupee traded weak taking cues from a stronger dollar. It depreciated by over thirty-one paise for the day as local equities also traded low and closed on a weak note.”

The trading range for the Spot USD/INR pair is expected to be within 64.80 to 65.80.

In the forward market, the premium for dollar continued to fall on sustained receivings from exporters.

The benchmark six-month premium payable in January declined further to 194-196 paise from 195.5-197.5 paise on last Friday and far-forward contracts maturing in July 2016 also moved down further to 415-417 paise as against 416.5-418.5 paise.

The RBI fixed the reference rate for the dollar at 65.220 and for the euro at 72.3942.

The rupee fell back against the pound sterling to finish at 102.09 as compared to 101.64 and also retreated against the Japanese currency to 52.45 per 100 yen against 52.38 previously.

It, however, recovered against the euro to 72.45 from 72.67.

Foreign portfolio investors (FPIs) were net buyers to the tune of Rs 403.76 crore on Friday, as per provisional data released by the stock exchanges.

Veracity Group CEO Pramit Brahmbhatt said, “Rupee traded weak taking cues from a stronger dollar. It depreciated by over thirty-one paise for the day as local equities also traded low and closed on a weak note.”

The trading range for the Spot USD/INR pair is expected to be within 64.80 to 65.80.

In the forward market, the premium for dollar continued to fall on sustained receivings from exporters.

The benchmark six-month premium payable in January declined further to 194-196 paise from 195.5-197.5 paise on last Friday and far-forward contracts maturing in July 2016 also moved down further to 415-417 paise as against 416.5-418.5 paise.

The RBI fixed the reference rate for the dollar at 65.220 and for the euro at 72.3942.

The rupee fell back against the pound sterling to finish at 102.09 as compared to 101.64 and also retreated against the Japanese currency to 52.45 per 100 yen against 52.38 previously.

It, however, recovered against the euro to 72.45 from 72.67.

 

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top