Tuesday June 23, 2009
MUMBAI: The rupee fell to its lowest in a month on Monday, weakened by a fall in share prices and demand for dollars from importers as the US currency strengthened ahead of a policy meeting of the Federal Reserve. The partially convertible rupee ended at 48.62/63 per dollar, off an intraday trough of 48.75, its lowest since May 18, according to Thomson Reuters data.
The rupee ended about 1.1 percent lower than Friday's close of 48.09/10. The local unit has shed more than 3 percent so far in June. "Equities were the key trigger for the rupee to fall today," a trader with a foreign bank said. One-month offshore non-deliverable forward contracts were quoting at 48.72/82, slightly weaker than the spot rate.
(Reuters)
MUMBAI: The rupee fell to its lowest in a month on Monday, weakened by a fall in share prices and demand for dollars from importers as the US currency strengthened ahead of a policy meeting of the Federal Reserve. The partially convertible rupee ended at 48.62/63 per dollar, off an intraday trough of 48.75, its lowest since May 18, according to Thomson Reuters data.
The rupee ended about 1.1 percent lower than Friday's close of 48.09/10. The local unit has shed more than 3 percent so far in June. "Equities were the key trigger for the rupee to fall today," a trader with a foreign bank said. One-month offshore non-deliverable forward contracts were quoting at 48.72/82, slightly weaker than the spot rate.
(Reuters)
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