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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • RBI has been wise to retain policy rates

    The Reserve Bank of India has been wise to retain policy rates in its latest money policy announcement.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Education domain must be autonomous

Few issues in the higher education domain exist despite numerous ...

Rajgopal Nidamboor

Can we modify our emotional bearings?

We are not always a replica of our thoughts, emotions ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture