Business Standard

Rupee hits record low on local stocks, risk aversion

Some traders expect a mild short-covering rally in the near-term

Reuters  |  Mumbai 

The fell to a new record low against the on Thursday as local stocks gave up gains notched earlier in the session while the euro remained near four-month lows.

The rupee was last trading at a record low of 54.5650, breaching its previous all-time low of 54.52 hit just on Wednesday.

Local stocks were trading flat after rising as much as 1.3% earlier in the session.

RECOMMENDED FOR YOU

Rupee hits record low on local stocks, risk aversion

Some traders expect a mild short-covering rally in the near-term

The rupee fell to a new record low against the dollar on Thursday as local stocks gave up gains notched earlier in the session while the euro remained near four-month lows.

The fell to a new record low against the on Thursday as local stocks gave up gains notched earlier in the session while the euro remained near four-month lows.

The rupee was last trading at a record low of 54.5650, breaching its previous all-time low of 54.52 hit just on Wednesday.

Local stocks were trading flat after rising as much as 1.3% earlier in the session.

image
Widgets Magazine

More News

Widgets Magazine
Widgets Magazine
Advertisement

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard