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

bjp-lost-17-seats-in-haryana-by-a-narrow-margin

BJP lost 17 seats in Haryana by a thin edge

October-22-2014
NEW DELHI: The BJP’s triumph in Haryana can’t simply be surveyed through the quantity of seats the gathering won additionally by the
44895643.cms

Sunny Leone’s Special Birthday surprise For Husband Daniel Weber

October-21-2014
Sunny Leone had masterminded an unique birthday festival for her spouse Daniel Weber in Thailand. A couple of days prior, Daniel had
IndiaTv1611f0_cfc

ISL mentors among a few peering toward India work

October-21-2014
PANAJI: There is life past the commotion and fervor of the Indian Super group, particularly for the mentors on obligation. Most mentors
06-rupee6

Rupee picks up 8 paise against dollar in early trade

October-21-2014
MUMBAI: Extending its climbing streak for the third straight day, the rupee increased in value by 8 paise to 61.28 against the
IndiaTv568462_akhilesh

Akhilesh Yadav the CM of UP gets feel of power crisis

October-21-2014
Lucknow: Uttar Pradesh Chief Minister Akhilesh Yadav and his bureau got a direct knowledge of the dismal force situation in the state
BJP flag

Maharashtra: Congress hits once more at NCP, says will never help Shiv Sena

October-21-2014
New Delhi: Senior Congress pioneer Ajay Maken hit over at National Congress Party boss Sharad Pawar by saying that the gathering will