The rupee today fell to a five-month low by losing 47 paise to 54.26 against the US dollar on the Interbank Foreign Exchange market in early trade on increased capital outflows amid strong demand for the greenback.
It fell below the previous session low of 54.15 and is fast approaching a record low of 54.30 hit in December as global risk aversion intensified. The rupee had touched a record intraday low of 54.32 on December 15, 2011.
Forex dealers said apart from the dollar's gains against the euro and other currencies overseas on renewed eurozone worries, a weak opening in the equity market and increased demand for the American currency from importers mainly put pressure on the rupee.
Source: The Economic Times
Leave a Reply