Page 2 - Rupee Falls News Today

At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals.

At the interbank forex exchange, the rupee opened at 83.22 then touched 83.26 against the American currency, registering a decline of 4 paise over its previous close.

The rupee fell 2 paise to hit the lowest level of 83.15 against the US dollar in early trade on Thursday amid a strong American currency and elevated crude oil prices. Forex traders said, massive selling of equities by foreign investors in the past few sessions and subdued market sentiment also put pressure on the Indian currency.

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

This spelled tighter supplies in the next four months as markets expected a supply cut only up to October. Oil is the biggest import for India and any spike in oil price will widen the Current Account Deficit, Bhansali said.

The rupee depreciated by 10 paise and settled for the day at an all-time low of 83.14 (provisional) against the US dollar today, weighed down by a surge in crude oil prices and strong American currency.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 487.94 crore, according to exchange data.

At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close.

The rupee declined marginally on weak domestic markets and foreign fund outflows, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.

The Rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar on Friday, weighed down by a negative trend in domestic equities and foreign fund outflows.