Press Esc to close

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

Mumbai, Apr 4, 2013 (PTI) 18:36 IST
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

More from this section
Most trending stories
Photo Gallery
Miss World 2017 Manushi Chhillar and actor Rekha pose for a picture...

Miss World 2017 Manushi Chhillar and actor Rekha pose for a picture...

Actor Sunny Leone gives her measurement for her wax statue to be displayed at Madame Tussauds...

Actor Sunny Leone gives her measurement for her wax statue to be displayed at Madame Tussauds...

A woman dries red chillies at a field in a village near Jodhpur on Thursday....

A woman dries red chillies at a field in a village near Jodhpur on Thursday....

Pope Francis holds a cross that reads in Spanish

Pope Francis holds a cross that reads in Spanish "I give you my peace" upon arrival...

A villager displays a mortar shell allegedly fired on a residential area from the Pakistan...

A villager displays a mortar shell allegedly fired on a residential area from the Pakistan...

A contingent of Territorial Army wait during the Republic Day parade rehearsal at Rajpath...

A contingent of Territorial Army wait during the Republic Day parade rehearsal at Rajpath...

'Boyevaya Machine Pekhoty' tanks seen at Vijay Chowk during the Republic Day parade rehearsal...

'Boyevaya Machine Pekhoty' tanks seen at Vijay Chowk during the Republic Day parade rehearsal...

Artists paint an idol of Goddess Saraswati at a workshop in Amritsar on Thursday...

Artists paint an idol of Goddess Saraswati at a workshop in Amritsar on Thursday...

Cranes lift a Boeing 737-800 of Turkey's Pegasus Airlines in Trabzon, Turkey...

Cranes lift a Boeing 737-800 of Turkey's Pegasus Airlines in Trabzon, Turkey...

Tableaux artists rehearse for the upcoming Republic Day parade at Rajpath in New Delhi...

Tableaux artists rehearse for the upcoming Republic Day parade at Rajpath in New Delhi...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.