Mostly Cloudy
21°CThu :Partly Cloudy. High: 24 Low: 15

Rupee woes continue; hits fresh all-time low of 65.56 Vs dollar

Rupee woes continue; hits fresh all-time low of 65.56 Vs dollar

New Delhi: The rupee on Thursday plunged further by 148 paise to hit a fresh record low of 65.56 against the US dollar in mid-session trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers.

The rupee had ended at 64.11 after hitting a fresh low of 64.54 against the US dollar in the previous session.

Forex dealers said besides strong demand for the American currency from importers and banks, dollar’s strength against other currencies overseas amid expectation that the Federal Reserve will soon taper its bond-buying programme weighed on the domestic currency.

They said several measures announced by the government and the RBI failed to check volatility in the rupee.

Weak domestic fundamentals such as record current account deficit concern too put pressure on the rupee, they said.

Federal Reserve minutes yesterday also hinted that the United States may start tapering its stimulus as early as next month.

 

Top Stories

ms_windows10-624x351

Windows 10: A seak look at Microsoft’s most recent working framework

October-02-2014
Microsoft has reported its ‘Windows 10′ working framework to supplant the generally disagreeable Windows 8, skirting a number to stamp a jump
the-story-of-my-experiments-with-truth

Gandhi’s life autobiography to be introduce in Punjabi, Kashmiri

October-02-2014
Ahmedabad: Mahatma Gandhi’s life account ‘The Story of My Experiments with Truth’ has now been distributed in Kashmiri and Punjabi dialects likewise
jaya_verdict_docu_650

8 Big Quotes From Court Order That Declared Jayalalithaa Guilty

October-02-2014
J Jayalalithaa, a standout amongst the most influential and prominent legislators from Tamil Nadu, will use at any rate an alternate week
haider-vs-bang-bang_625x300_51412222201

Today’s Big Releases: Bang, Haider

October-02-2014
Both Haider and Bang incorporate gunfire, lies, affection and energy It’s a motion picture weekend fans have been holding up for a
18_4

Swachh Bharat Abhiyan: PM Narendra Modi to wield sweeper to give India another picture

October-02-2014
NEW DELHI: After just about a week-long cleanliness drive in focal government business locales headed by Cabinet priests, Prime Minister Narendra Modi
Tombstone

Orkut close down, clients asked to fare photographs

October-01-2014
BANGALORE: Google pulled the attachment of the once commended person to person communication site, Orkut, on September 30. Before Google wandered into