Rupee loses 61 paise to early low of Rs 54.32 per dollar

<div dir="ltr" style="text-align: left;" trbidi="on"><span class="Apple-style-span" style="background-color: white; color: #222222; font-family: Arial, Helvetica, sans-serif; font-size: 12px;"></span><br /> <div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The Indian rupee breached the Rs 54 per dollar-mark in early trade on Thursday, tumbling by 61 paise to Rs 54.32 per dollar on sustained demand for the American currency from banks and importers amid a stronger dollar in overseas market and persistent foreign capital outflows.</div><div class="separator" style="clear: both; text-align: center;"><a href="http://www.deccanchronicle.com/sites/default/files/imagecache/article_horizontal/article-images/cash-pti_4.jpg.crop_display.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="236" src="http://www.deccanchronicle.com/sites/default/files/imagecache/article_horizontal/article-images/cash-pti_4.jpg.crop_display.jpg" width="320" /></a></div><div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><br /> </div><div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The rupee resumed lower at Rs 54.20/21 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.71/72 per dollar, and dropped further to Rs 54.32 per dollar before quoting at Rs 54.28/29 per dollar at 10.30 am.</div><div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Sustained foreign fund capital outflows in view of the fall in the equity market, coupled with a stronger dollar in global markets, mainly affected the rupee value against the American currency, a forex dealer said.</div><div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">In the New York market, the euro slumped to its lowest level since January on Wednesday, falling below USD 1.30 per euro after Italy's borrowing costs surged in a bond auction amid reinforced worries about the region's sovereign-debt crisis.</div><div style="letter-spacing: 0.2px; line-height: 20px; margin-bottom: 10px; margin-right: 3px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Meanwhile, the BSE benchmark Sensex dropped further by 223 points, or 1.40 per cent, in early trade.</div></div>

Rupee loses 61 paise to early low of Rs 54.32 per dollar

The Indian rupee breached the Rs 54 per dollar-mark in early trade on Thursday, tumbling by 61 paise to Rs 54.32 per dollar on sustained de...

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India Biggest Scams - What We Can Do With Money

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