Rupee weakens to 1-week low

Euro also trading down but losses capped ahead of a European Central Bank meeting on Thursday

Image
Reuters Mumbai
Last Updated : Jan 24 2013 | 2:10 AM IST

Rupee trades at 55.81/82 versus its previous close of 55.65/66, after hitting 55.8375, its weakest since August 28, tracking weakness in the domestic share market and a risk averse sentiment regionally.

The Sensex trades down 0.3 percent, with most other Asian currencies also trading weaker versus the dollar.

Euro also trading down but losses capped ahead of a European Central Bank meeting on Thursday.

Traders say the pair can rise to 56 levels if dollar demand from oil companies continues through the day, but exporters are expected to come in and sell dollars around those levels, resisting any further upside.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Sep 05 2012 | 12:33 PM IST

Next Story