Business Standard

Rupee logs 4th drop in 5 days, down 10 p against US dollar

Indian equity benchmark Sensex today tumbled by 322 points, while FIIs withdrew about Rs 523 crore as per provisioonal data

Press Trust of India  |  Mumbai 

The today weakened by 10 paise, logging its fourth loss in five days, to end at 59.03 against the following fresh demand for the US currency from importers and capital outflows linked to fall in shares.

The commenced a tad higher at 58.92 a from previous close of 58.93 and improved further to a high of 58.79 on initial selling by exporters.



It, later turned negative and dropped to a low of 59.07 before concluding at 59.03 -- recording a fall of 10 paise or 0.17%. Yesterday, it had gained 11 paise after depreciating 57 paise in the previous three sessions.

The Indian equity benchmark today tumbled by 322 points, or 1.31%, while FIIs withdrew about Rs 523 crore as per provisioonal data.

Pramit Brahmbhatt, Veracity Group CEO, said: "traded weak as demand from importers, mainly oil companies forced to trade low its fourth daily fall in five days. Local equities also ended the day on a negative note which further dented the movement of rupee. The trading range for spot USD/INR pair is expected to be 58.50-59.50."

The index was down by 0.15% against its major global rivals, ahead of a report on US economy.

Meanwhile, premium for forward recovered on fresh payments from banks and corporates.

The benchmark six-month premium payable in October inched up to 204.5-206.5 paise from 203.5-205.5 paise previously.

Far-forward contracts maturing in April, 2015 also rose to 441.5-443.5 paise from 429-431 paise.

The Reserve Bank of India fixed the reference rate for at 58.8415 and for the euro at 80.0315.

The edged up further against the pound to 98.66 from 98.67 previously while fell back to 80.36 per euro from 80.18. The also turned negative to end down at 58.11 per 100 Japanese yen from 57.80.

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Rupee logs 4th drop in 5 days, down 10 p against US dollar

Indian equity benchmark Sensex today tumbled by 322 points, while FIIs withdrew about Rs 523 crore as per provisioonal data

The rupee today weakened by 10 paise, logging its fourth loss in five days, to end at 59.03 against the dollar following fresh demand for the US currency from importers and capital outflows linked to fall in shares. The today weakened by 10 paise, logging its fourth loss in five days, to end at 59.03 against the following fresh demand for the US currency from importers and capital outflows linked to fall in shares.

The commenced a tad higher at 58.92 a from previous close of 58.93 and improved further to a high of 58.79 on initial selling by exporters.

It, later turned negative and dropped to a low of 59.07 before concluding at 59.03 -- recording a fall of 10 paise or 0.17%. Yesterday, it had gained 11 paise after depreciating 57 paise in the previous three sessions.

The Indian equity benchmark today tumbled by 322 points, or 1.31%, while FIIs withdrew about Rs 523 crore as per provisioonal data.

Pramit Brahmbhatt, Veracity Group CEO, said: "traded weak as demand from importers, mainly oil companies forced to trade low its fourth daily fall in five days. Local equities also ended the day on a negative note which further dented the movement of rupee. The trading range for spot USD/INR pair is expected to be 58.50-59.50."

The index was down by 0.15% against its major global rivals, ahead of a report on US economy.

Meanwhile, premium for forward recovered on fresh payments from banks and corporates.

The benchmark six-month premium payable in October inched up to 204.5-206.5 paise from 203.5-205.5 paise previously.

Far-forward contracts maturing in April, 2015 also rose to 441.5-443.5 paise from 429-431 paise.

The Reserve Bank of India fixed the reference rate for at 58.8415 and for the euro at 80.0315.

The edged up further against the pound to 98.66 from 98.67 previously while fell back to 80.36 per euro from 80.18. The also turned negative to end down at 58.11 per 100 Japanese yen from 57.80.
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Business Standard
177 22

Rupee logs 4th drop in 5 days, down 10 p against US dollar

Indian equity benchmark Sensex today tumbled by 322 points, while FIIs withdrew about Rs 523 crore as per provisioonal data

The today weakened by 10 paise, logging its fourth loss in five days, to end at 59.03 against the following fresh demand for the US currency from importers and capital outflows linked to fall in shares.

The commenced a tad higher at 58.92 a from previous close of 58.93 and improved further to a high of 58.79 on initial selling by exporters.

It, later turned negative and dropped to a low of 59.07 before concluding at 59.03 -- recording a fall of 10 paise or 0.17%. Yesterday, it had gained 11 paise after depreciating 57 paise in the previous three sessions.

The Indian equity benchmark today tumbled by 322 points, or 1.31%, while FIIs withdrew about Rs 523 crore as per provisioonal data.

Pramit Brahmbhatt, Veracity Group CEO, said: "traded weak as demand from importers, mainly oil companies forced to trade low its fourth daily fall in five days. Local equities also ended the day on a negative note which further dented the movement of rupee. The trading range for spot USD/INR pair is expected to be 58.50-59.50."

The index was down by 0.15% against its major global rivals, ahead of a report on US economy.

Meanwhile, premium for forward recovered on fresh payments from banks and corporates.

The benchmark six-month premium payable in October inched up to 204.5-206.5 paise from 203.5-205.5 paise previously.

Far-forward contracts maturing in April, 2015 also rose to 441.5-443.5 paise from 429-431 paise.

The Reserve Bank of India fixed the reference rate for at 58.8415 and for the euro at 80.0315.

The edged up further against the pound to 98.66 from 98.67 previously while fell back to 80.36 per euro from 80.18. The also turned negative to end down at 58.11 per 100 Japanese yen from 57.80.

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Business Standard
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