Rupee drops on global risk-off

Tags: News
Rupee drops to 54.58/59 from its previous close of 54.2050/2150, tracking a global risk-off mood.

Asian shares down as investors worry about the fiscal crisis in the United States and the European economy's further deterioration, underpinning safe-haven currencies such as the yen and dollar.

Asian currencies trading mixed compared to the dollar.

Traders say losses in domestic shares adding to the bullish sentiment for the dollar. Shares down 0.7 percent.

Exporters, however, are expected to step up dollar sales and limit further sharp gains in the pair beyond the recent one-and-a-half-month low of 54.7850 touched on Tuesday.

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E-mail ID will not be published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

  • Modi’s big wins in Haryana, Maharashtra are major milestones

    The results of the assembly elections in Maharashtra and Haryana are pretty much on the lines of the exit polls which suggested that the BJP was going

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

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Purnendu Ghosh

Are we becoming way too impatient?

Too much expectation makes one impatient. We don’t like to ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture