Rupee breaches 54 per dollar mark

Started by sajiv, Dec 17, 2011, 02:48 AM

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sajiv


The Indian rupee fell by 46 paise to a record low of Rs 54.17 per US dollar in early trade today, breaching the Rs 54 per dollar-mark for the first time in history on sustained foreign capital outflows and dollar gains against the euro and other rivals overseas.

The domestic currency had tumbled by 48 paise to close at a record low of Rs 53.71/72 per dollar in the previous session on strong demand for the American currency and strengthening of the dollar against its rivals overseas.

Forex dealers said in addition to continued demand for the American currency from importers and some banks, dollar gains against the euro and other currencies amid concerns over the euro zone debt crisis put pressure on the Indian rupee.

Meanwhile, the BSE benchmark Sensex fell by 158.51 points, or 1 per cent, to 15,722.63 in opening trade today.

Source :TOI

Sudhakar

Good update.

Dollar growth is good for many companies in India, IT Gaint will break record breaking revenues bcoz of the dollar gains.

More details on
http://discuss.itacumens.com/index.php/topic,94265.0.html

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