Rupee down 36 paise against dollar after Fed's decision

Tags: Rupee, News
The rupee fell sharply by 36 paise to 62.77 against the dollar in early trade today at the Interbank Foreign Exchange market on increased demand for the American currency from importers after the US Federal Reserve decided to scale back its stimulus.

Forex dealers said the US Federal Reserve's move to scale back its stimulus programme put pressure on other currencies overseas.

Besides, month-end demand from importers for the American currency and a lower opening of the domestic equity market also weighed on the rupee, they said.

The rupee had gained 10 paise to close at 62.41 against the US dollar in yesterday's trade.

Meanwhile, the benchmark BSE Sensex fell by 196.27 points, or 0.95 per cent, to 20,451.03 in early trade today.

EDITORIAL OF THE DAY

  • Mental illness needs to be treated not dismissed as madness

    We’re all mad here.” So said the Cheshire cat to Alice (Alice in Wonderland, Lewis Carol). It’s a matter of perspective who we call mad.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Sanskrit: a victim of academic schizophrenia

J Robert Oppenheimer, the father of the atomic bomb and ...

Zehra Naqvi

God save the child

Childhood is supposed to be the best phase in life. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture