Rupee weaker tracking Asian currencies

Tags: Rupee, News
The rupee fell to as low as 60.35 to the dollar from its 60.1750/1850 close on Friday, its lowest since April 4, before recovering some of its losses. Monday was a market holiday in India.

The weaker rupee tracked Asian currencies, while slowing dollar inflows also added to the pressure, a foreign bank dealer said.

"Many research divisions are now recommending to unwind long rupee positions and book profits," said the dealer.

Sentiment was also cautious ahead of the release of two key inflation readings during the day - wholesale price index and consumer price index.

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E-mail ID will not be published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

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

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

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture