February 26, 2013

Rupee continues to decline against dollar in late morning

Rupee continues to decline against dollar in late morning - The Economic Times
The Indian rupee continued to fall against the American currency in the late morning trade by slipping 16 paise to Rs 54.02 per dollar on month-end dollar demand from importers amid firm dollar overseas.

The rupee resumed lower at Rs 54.03 per dollar against the last closing level of Rs 53.86 per dollar at the Interbank Foreign Exchange (Forex) Market and moved in a range of Rs 54 per dollar and Rs 54.09 per dollar before quoting at Rs 54.02 per dollar at 1040hrs.

Month-end dollar demand from importers mainly oil refiners mainly affected the rupee value against the dollar, a forex dealer said.

Source : The Economic Times

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