Press Esc to close
Friday 29 April 2016
News updated at 11:19 PM IST
Weather
Max: 36.7°C
Min : 24.5°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
Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Protesters throw stones on security personnel during clashes in Srinagar...

Protesters throw stones on security personnel during clashes in Srinagar...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...