Sunday, 7 July 2013

Rupee Drops Below 61/dollar, Strikes New Life-Time Low

The rupee on Thursday dropped by a large 97 paise to violation the 61-mark to 61.19, a new all-time low, against the money in beginning business at the Interbank International Return market, on large requirement for the United states currency trading amongst investment outflows.

Forex traders said money tightening up against other foreign exchange in offshore marketplaces, mainly put stress on the household currency trading to contact an all-time low. The local currency trading had delved to 60.76 intraday on July 26.

The rupee had dropped by nine paise to 60.22 on Saturday and the clean fall was led by a extreme development of raw oil costs which increased over USD 100 in offshore marketplaces.