Friday 18 April 2014
News updated at 7:16 PM IST
Weather
Max: 34.6°C
Min : 22.1°C
In Bangalore
Sunny day

Rupee at 1-month low, slides 44 p to 54.87 on capital outflows

Mumbai, Apr 4, 2013 (PTI)

Tracking weak stock market, the rupee today extended its losing run to the second day by plunging 44 paise to one-month low of 54.87 on US dollar demand and heavy capital outflows.

At the Interbank Foreign Exchange (Forex) market here, the rupee commenced weak at 54.50 a dollar from previous close of 54.43 and immediately touched a high of 54.49.

With Indian stocks under pressure, the rupee tumbled to a low of 54.89 on emergence of dollar demand from importers and some banks on expectations of further rise in dollar overseas. It concluded at 54.87, a fall of 44 paise or 0.81 per cent.


The dollar index was up by a whopping over 0.6 per cent against a basket of six major rivals as the Japanese yen today dipped after the Bank of Japan lived up to expectations with a massive easing programme.

India remains dependent on debt related and short-term portfolio flows to bridge Current Account Deficit, said Anindya Banerjee, Currency Analyst, Kotak Securities.

Rupee could remain under pressure against the USD going forward, within a range of 54.50 and 55.30 on spot, he added.

"The rupee fell to its lowest level in almost a month amid volatile trade. The concerns on the capital inflows will leave the currency more vulnerable to a CAD. Also the capital flows into emerging markets may be diverted to the US as a recovery in world's largest economy is gathering momentum," said Abhishek Goenka, Founder and CEO, India Forex Advisors.

Yesterday, FIIs sold stocks worth Rs 368 crore.

The Indian benchmark S&P BSE Sensex today slumped by 291.94 points to end at more than four-month low of 18,509.70.

Go to Top

Photo Gallery
A potter making earthen pots during summer season in Mirzapur on Friday. PTI Photo

A potter making earthen pots during summer season in Mirzapur on Friday. PTI Photo

Samajwadi Party workers attempt self-immolation with kerosene oil during a protest against ...

Samajwadi Party workers attempt self-immolation with kerosene oil during a protest against ...

Members of People for the Ethical Treatment of Animals (PETA), dressed as bloodied rabbits ...

Members of People for the Ethical Treatment of Animals (PETA), dressed as bloodied rabbits ...

Mutupallaku fesitval procession at Coonoor near Ooty on Friday. PTI Photo

Mutupallaku fesitval procession at Coonoor near Ooty on Friday. PTI Photo

A girl child kissing a statue of Jesus Christ on the occasion of Good Friday at The Sacred Heart...

A girl child kissing a statue of Jesus Christ on the occasion of Good Friday at The Sacred Heart...

Devotees carry holy cross as they participate in a ‘Good Friday’ at Thamarasseri in Kozhikode...

Devotees carry holy cross as they participate in a ‘Good Friday’ at Thamarasseri in Kozhikode...

Bihu Samragi, Himashree Saikia (C), Bihu Rani, Hiranmoee Kalita (R and Bihu Kuwari, Murchana ...

Bihu Samragi, Himashree Saikia (C), Bihu Rani, Hiranmoee Kalita (R and Bihu Kuwari, Murchana ...

Bollywood actor Vivek Oberoi taking pictures at the Golden Temple in Amritsar on Friday. PTI Photo

Bollywood actor Vivek Oberoi taking pictures at the Golden Temple in Amritsar on Friday. PTI Photo

President Pranab Mukherjee felicitates film Bhoonath Returns' casts after the screening of the ...

President Pranab Mukherjee felicitates film Bhoonath Returns' casts after the screening of the ...

President Pranab Mukherjee with Amitabh Bachchan after the screening of the special show of...

President Pranab Mukherjee with Amitabh Bachchan after the screening of the special show of...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523