Press Esc to close
Friday 27 May 2016
News updated at 1:50 AM IST
Weather
Max: 33.2°C
Min : 22.8°C
In Bengaluru
Partially cloudy

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
Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Vehicles moving on a road during a dust storm in Bikaner...

Vehicles moving on a road during a dust storm in Bikaner...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

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