Advertisement

HindustanTimes Thu,28 Aug 2014

Rupee down 14 paise vs dollar in late morning deals

PTI  Mumbai, October 29, 2013
First Published: 09:58 IST(29/10/2013) | Last Updated: 11:30 IST(29/10/2013)

The rupee on Tuesday dropped by 14 paise to 61.66 against the dollar in late morning trade on sustained month-end demand for the US currency from importers in spite of persistent foreign capital inflows.

Advertisement

Cautious approach ahead of the Reserve Bank of India's meeting on Monday also affected the market sentiment, a forex dealer said.

The rupee resumed lower at $61.60 as against the last closing level of 61.52 at the Interbank Foreign Exchange (Forex) market.

It dropped further to 61.69 before quoting at 61.66 per dollar at 1040 hours.

It hovered in a range of 61.60 and 61.69 per dollar in morning deals.

In New York, the dollar traded in tight ranges against most rivals on Monday as market participants awaited a continuation of the Federal Reserve's monthly bond purchases later this week.

Crude oil prices edged lower in Asian trade today as dealers await a two-day US Federal Reserve policy meeting to find out the bank's plans for its stimulus programme.

Meanwhile, the Indian benchmark BSE-30 share barometer Sensex dropped by 50 points or 0.24% to 20,520.72 at 1050 hours.


Advertisement
more from Business

Not flying high: Air India faces maximum passenger complaints

Air India tops the list of passenger complaints lodged against Indian airlines in July this year, followed by no-frill carrier SpiceJet, official data shows. Most air travellers, who have lodged complaints against the airlines, complained of problems relating to delayed flights and their customer services.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved