Press Esc to close
Tuesday 26 July 2016
News updated at 11:53 AM IST
Weather
Max: 30.3°C
Min : 20.4°C
In Bengaluru
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
Legendary Santoor player Pandit Shivkumar Sharma being felicitated during an event...

Legendary Santoor player Pandit Shivkumar Sharma being felicitated during an event...

Members of the Indian archery team, the first to reach Brazil for the upcoming Olympics...

Members of the Indian archery team, the first to reach Brazil for the upcoming Olympics...

Kanwarias on their way to offer holy water to Lord Shiva on the occasion of holy month of Shravan...

Kanwarias on their way to offer holy water to Lord Shiva on the occasion of holy month of Shravan...

Actress Kajal Aggarwal receiving an award at 'Femina Power List South 2016'...

Actress Kajal Aggarwal receiving an award at 'Femina Power List South 2016'...

Coast Guard IG Rajan Bargotra briefing on the search operations of missing IAF AN-32 aircraft...

Coast Guard IG Rajan Bargotra briefing on the search operations of missing IAF AN-32 aircraft...

Mumbai crowned Premier Futsal champions in Mapusa...

Mumbai crowned Premier Futsal champions in Mapusa...

Chief of Army Staff, General Dalbir Singh paying homage to the martyrs of OP VIJAY...

Chief of Army Staff, General Dalbir Singh paying homage to the martyrs of OP VIJAY...

School studentsí celebrate Kargil Vijay Diwas in Jalandhar...

School studentsí celebrate Kargil Vijay Diwas in Jalandhar...

Forest officials patrolling in a boat on the flooded Kaziranga National Park on Monday...

Forest officials patrolling in a boat on the flooded Kaziranga National Park on Monday...

KSRTC buses were parked on following the State Transport Unions strike...

KSRTC buses were parked on following the State Transport Unions strike...

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