Press Esc to close
Saturday 25 March 2017
News updated at 12:52 PM IST

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
Crime Branch officials display seized silver worth rupees 90 Lakh at a press conference in Thane...

Crime Branch officials display seized silver worth rupees 90 Lakh at a press conference in Thane...

Bollywood actress Jacqueline Fernandez during an event in Mumbai...

Bollywood actress Jacqueline Fernandez during an event in Mumbai...

An oil tanker catches fire at a petrol pump in Nongrim Hills, Shillong...

An oil tanker catches fire at a petrol pump in Nongrim Hills, Shillong...

Tibetan spiritual leader The Dalai Lama interacts with Australian cricket team captain Steve...

Tibetan spiritual leader The Dalai Lama interacts with Australian cricket team captain Steve...

Medical students form the sign of 'TB' as they observe World Tuberculosis Day in Shimla...

Medical students form the sign of 'TB' as they observe World Tuberculosis Day in Shimla...

Renowned Kathak dancer Jayanti Mala performing at the Taj Mahotsav in Agra...

Renowned Kathak dancer Jayanti Mala performing at the Taj Mahotsav in Agra...

Members of Maharashtra Association of Resident Doctors (MARD) show placards during a protest...

Members of Maharashtra Association of Resident Doctors (MARD) show placards during a protest...

Actor-Director Pooja Bhatt with 82-year-old Chandro Tomar popularly known as Revolver Dadi...

Actor-Director Pooja Bhatt with 82-year-old Chandro Tomar popularly known as Revolver Dadi...

A view of the Yadiyuru Lake in Bengaluru...

A view of the Yadiyuru Lake in Bengaluru...

The 485 km long Manali-Leh strategic road being cleared of snow by Border Road Organisation...

The 485 km long Manali-Leh strategic road being cleared of snow by Border Road Organisation...

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