| Date: |
09-08-2011 |
| Subject: |
Rupee Hits 10-Week Low Against U.S. Dollar |
|
The Indian rupee depreciated by 41 paise to a nearly 10-week low of Rs. 45.38 against the U.S. dollar in early trade on the Interbank Foreign Exchange on Tuesday, largely on capital outflow concerns.
The rupee closed down by 23 paise at a nearly six-week low of Rs. 44.97/98 against the U.S. dollar in Monday’s trade as institutional investors took out funds amid a slump in global stocks following the downgrade of America’s sovereign rating.
Forex dealers said weakness in the equity market and capital outflow concerns continued to put pressure on the Indian rupee, which has fallen to its lowest level since May 25 this year.
Meanwhile, the BSE benchmark Sensex crashed by 558.18 points to 16,432.00 in opening trade today.
Source : thehindu.com
|