| Date: |
21-06-2012 |
| Subject: |
Rupee inches closer to record low; hits 56.45 Vs dollar |
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Mumbai: The rupee continued its downslide for the fourth day in a row and coming close to a record low against the dollar as risk assets fell on disappointment about the scope of US Federal Reserve's bond purchases and after HSBC factory data from China showed a contraction.
At the Interbank Foreign Exchange (Forex) market, the rupee was at 56.34/38 to the dollar versus its 56.15/16 close on Wednesday. It fell to 56.45 in early trade, close to its record low of 56.52 hit on May 31.
Experts said the quarter and month-end demand for dollars from oil importers and corporates increased the negative sentiment against the rupee.
With Agency Inputs
Source : zeenews.india.com
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