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.

EDITORIAL OF THE DAY

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture