Press Esc to close
Wednesday 22 April 2015
News updated at 8:20 AM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day

Rupee breaches 66-mark against dollar, down 176 paise

Mumbai, Aug 27, 2013, PTI:

The rupee today breached the 66-mark against the dollar for the first time in history and quoted at 66.06 at mid-session.

The Indian currency declined amid weak local equities and demand for the dollar from importers and banks. A strong US currency overseas and capital outflows also weighed on the rupee.

The rupee opened lower at 65 from yesterday's close of 64.30 and continued to slide to 66.06, down by 176 paise. It quoted at 65.97 against the dollar at 1400 hours. The previous lifetime low of 65.56 was reached on August 22.

Month-end dollar demand from importers, mainly oil refiners, and some banks on behalf of their clients put pressure on the rupee.

Dealers said the Food Security Bill, which was passed by the Lok Sabha yesterday, has raised fears that the government might face a higher subsidy burden.

Finance Minister P Chidambaram said in New Delhi today that the currency is undervalued and hoped it will find its appropriate level.

Chidambaram also said the fiscal deficit will be contained at 4.8 per cent of GDP even after doling out subsidies to implement the Food Security Bill.

The benchmark S&P BSE Sensex stock index was down by more than 575 points in afternoon. Foreign institutional investors pulled out a net Rs 607.43 crore of stocks yesterday, as per provisional data with the exchanges. 


Go to Top

Photo Gallery
Tribute to JB Pattanaik

Tribute to JB Pattanaik

Galina Gorlova stands outside her destroyed home as she speaks to neighbours in the village of Nikis

Galina Gorlova stands outside her destroyed home as she speaks to neighbours in the village of Nikis

Atletico Madrid's coach Simeone attends a news conference in Madrid

Atletico Madrid's coach Simeone attends a news conference in Madrid

Pal community mass marriage ceremony

Pal community mass marriage ceremony

Indian students take part in a fitness program in Ahmedabad

Indian students take part in a fitness program in Ahmedabad

One World Trade Center stands in Lower Manhattan,

One World Trade Center stands in Lower Manhattan,

People buy gold on the occassion of Akshaya Tritiya

People buy gold on the occassion of Akshaya Tritiya

People flee Sanaa with their belongings after an air strike hit a nearby army weapons depot

People flee Sanaa with their belongings after an air strike hit a nearby army weapons depot

An F/A-18C Hornet launches from the flight deck of the aircraft carrier USS Theodore Roosevelt

An F/A-18C Hornet launches from the flight deck of the aircraft carrier USS Theodore Roosevelt

People take part in the Color Run near the Eiffel Tower, in Paris

People take part in the Color Run near the Eiffel Tower, in Paris

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