Rupee crosses 49 mark, closes at 48.95
Date : Aug-18-2009 10:07
Due to the declining equity markets, the Indian rupee was affected where on August 17 it dropped down by 71 paise to close at a one-month low of 48.95/96 against the dollar. Moreover, due to the hope of increased capital outflows and huge dollar buying by foreign funds, it recorded the largest fall in absolute terms in more than three months.
In addition, the domestic unit resumed sharply lower at 48.53/54 a dollar from last Friday''s close of 48.24/25 per dollar at the inter bank foreign exchange trade while later it moved further lower to cross 49 level to a low of 49.02 before ending the day at 48.95/96 a dollar, a fall of 1.47%. However, due to the slow global markets along with the low monsoon, the Indian standard sensex fell by 626.71 points or 4.07%.
Date : Aug-18-2009 10:07
Due to the declining equity markets, the Indian rupee was affected where on August 17 it dropped down by 71 paise to close at a one-month low of 48.95/96 against the dollar. Moreover, due to the hope of increased capital outflows and huge dollar buying by foreign funds, it recorded the largest fall in absolute terms in more than three months.
In addition, the domestic unit resumed sharply lower at 48.53/54 a dollar from last Friday''s close of 48.24/25 per dollar at the inter bank foreign exchange trade while later it moved further lower to cross 49 level to a low of 49.02 before ending the day at 48.95/96 a dollar, a fall of 1.47%. However, due to the slow global markets along with the low monsoon, the Indian standard sensex fell by 626.71 points or 4.07%.
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