 "Rupee extends fall as FM fails to announce concrete measures")
The rupee extended fall on Thursday following comments from the finance minister as he failed to announce any clear and strong measures to arrest the sharp decline in the rupee seen in recent weeks.
After strengthening 70 paise yesterday, it weakend again in early trade. It is currently trading at Rs 58.43 per dollar at 12 noon.
It had touched day's low of 58.56 during the trade.
Moses Harding, head, asset liabilty committee said, "Market was expecting some action from the governement on the policy front, which has not yet happened and rupee has reacted."
"He speaks about concerns, the market is already concerned and so far there are no definite plans or decisions," said Hari Chandramgethen, head of foreign exchange trading at South Indian Bank.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app