The rupee dropped
by 58 paise to 56.00 against the dollar in
the last session, continues to decline for the fourth day in a row on the Interbank Foreign Exchange on increased demand for the
American currency.
The Rupee fell
to a one-week low on Monday, with weakness in the euro after
US jobs data showed growth and on high demand for the American currency from
banks and importers.
The rupee
opened at Rs 55.90 a dollar. At 11.16 a.m., the rupee was at 55.99/56.01 after hitting 56.0050 earlier in trade, a level last seen June 29. But recovered temporarily to 55.82 before slipping
again to breach the 56-mark at 56.09 at 12.30 hrs, down by 67 paise over the
previous close of Rs 55.42 on Friday.
The Euro continued to remain to a two-year
low against the dollar on early Monday, following disappointing US jobs
growth figures, putting further pressure on the rupee, dealers said. The
domestic currency has fallen past the 56-level against the dollar after June
29.
Meanwhile, the BSE benchmark Sensex fell
by 153.75 points or 0.87% at 17,366.45 at 12.57 hrs.
Source: The Economic Times
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