By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
BusinessLogrBusinessLogr
Aa
  • Home Beauty
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Reading: Rupee breaches 65-mark, plunges 43 paise to 65.18
Share
BusinessLogrBusinessLogr
Aa
Search
  • Home Beauty
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
BusinessLogr > Economy > Rupee breaches 65-mark, plunges 43 paise to 65.18
Economy

Rupee breaches 65-mark, plunges 43 paise to 65.18

deep
Last updated: 2015/12/08 at 11:57 AM
deep Published December 8, 2015
Share
3 Min Read
SHARE

Rupee breaches 65-mark, plunges 43 paise to 65.18

The rupee on Tuesday fell by 43 paise to close at 65.18 against the American currency on persistent dollar demand frombanks and importers amidst lower greenback in the overseas market.

The rupee resumed lower at 64.88 per dollar as against Monday’s level of 64.75 at the Interbank Foreign Exchange market. It hovered in a range of 64.85 and 65.19 per dollar during the day before ending at 65.18, showing a loss of 43 paise or 0.66 per cent.

The dollar index was traded lower by 0.07 per cent as against a basket of six currencies. In overseas market, the dollar languished around three-week lows against a basket of currencies in early Asian trade amid fading expectations about the US Federal Reserve hiking interest rates as early as this month.

The yen on Tuesday strengthened against its rival currencies in late Asian trade as slumping Asian stocks and weak Chinatrade data prompted investors to buy the safety of the Japanese currency. Meanwhile, the benchmark BSE Sensex declined further by 57.58 points or 0.21 per cent.

Pramit Brahmbhatt, Veracity Group CEO, said, “On Tuesday also the rupee depreciated over 40 paise for the day to close at 65.18 taking cues from weakness in local equities as investors continued to stay away from the uncertain market. Also the sustained dollar demand from oil importers further forced rupee to depreciate over half per cent for the day.” The trading range for the Spot Dollar/INR pair is expected to be within 64.70 to 65.70.

In forward market on Tuesday, premium for dollar dropped further on sustained receivings from exporters. The benchmark six-month premium payable in March dropped further to 194-196 paise from 196.25-198.25 paise on Monday while forward September 2016 also declined further to 405-407 pasie from 408.5-410.5 paise.

The RBI fixed the reference rate for the dollar at 65.0215 and for the Euro at 73.9164. The rupee recovered against the pound sterling to finish at 99.28 from the last close from 99.44 previously while dropped further against the euro to 74.17 form 73.63. It also dropped further against the Japanese currency to settle at 54.40 per 100 yen from 53.90.

 
[“source-businesstoday”]

You Might Also Like

body shop with loaner car

WHO says monkeypox has been spreading undetected as global cases rise to more than 550

FedEx Acquires TNT specific, method better delivery in Europe

Endurance International Completes Constant Contact Acquisition

BigCommerce, Xero Partnership adds Cloud Accounting to online Stores

TAGGED: plunges 43 paise to 65.18, Rupee breaches 65-mark

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
deep December 8, 2015
Share this Article
Facebook Twitter Email Print
Share
Previous Article Why Supreme Court fine won’t stop toxic trucks
Next Article India in goldilocks period, FY16 GDP seen at 7.6%: Nomura

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • bmo harris express loan payment
  • payday loans that work with chime bank
  • 50 Main Street Local Marketing Ideas for the Holidays

Most Viewed Posts

  • 20 Fitness Franchises: Planet Fitness and Beyond
  • Choosing the Right Legal Structure For Your Business
  • bmo harris express loan payment
  • payday loans that work with chime bank
  • 50 Main Street Local Marketing Ideas for the Holidays

Recent Posts

  • The Essence of Public Storage Units
  • Guide to Retirement Planning: Putting Money Into the Future

FOXIZ

© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?