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E-mail ID will not be published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

  • Faith is the opium of the masses, so Indians get addicted

    India is a nation of 1.27 billion. Let that number sink in, with all its zeroes. That’s a lot of people.

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

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

Bubbles Sabharwal

When your real & reel life heroes are the same

ALL the world’s a stage and we all are merely ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture