Advertisement

HindustanTimes Wed,24 Sep 2014

Rupee drops by 30 paise vs dollar in late morning

PTI  Mumbai, December 21, 2012
First Published: 11:30 IST(21/12/2012) | Last Updated: 11:32 IST(21/12/2012)

The rupee dropped by 30 paise to 55.15 against the American currency in the late morning trade on good dollar demand from banks and importers in view of higher dollar overseas amdist fall in equity market.

Advertisement

The rupee resumed lower at 55.10 per dollar as against the last closing level of 54.85 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 55.25 per dollar before quoting at 55.15 per dollar at 1040 hrs.

It hovered in a range of 55.03 per dollar and 55.25 per dollar during the morning trade.

In New York market the US dollar recovered from earlier declines on Thursday reclaiming its highest level against the Japanese yen since April 2011 after the Bank of Japan delivered an expected increase in the size of its quantitative-easing programme.

The benchmark Sensex dropped by 95 points or 0.49% to 19,358.55 as Asian stocks fell after US House Republican leaders cancelled a planned vote that would permit higher taxes amid stalled budget talks.


Advertisement
more from Business

Future Group to foray into food manufacturing

Amid debt challenges and margin pressures in the retail sector, Future Group’s foray into food manufacturing will kick-start with Modi inaugurating the first of its three mega food parks in Tumkur, near Bangalore, on Wednesday.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved