| Date: |
12-09-2016 |
| Subject: |
Indian rupee down 24 paise at 66.92 against US dollar in early trade |
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Indian rupee continued its losing streak and was trading 24 paise down at 66.92 against US dollar (9.17 am) on Monday on increased demand of the American currency among importers and bankers. Domestic equity negative opening also contributed to rupee’s fall. The local currency had closed 26 paise down at 66.68 level per dollar. At 9.17 am, Sensex was trading 445.07 points down at 28,352.18, while NSE Nifty was trading 161.60 points down at 8,705.10 following their global counterparts that fell after hopes of US Federal Reserve lifting interest rates as early as next week rose again.
However, dollar was trading weak against other emerging market currencies like Yen, but that couldn’t help rupee gain.
US stock markets closed on a negative note on Friday with the Dow Jones Industrial Average closing lower by 394 points and Nasdaq index closing lower by 133 points as investors grappled with the possibility of the U.S. Federal Reserve boosting interest rates.
Source : financialexpress.com
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