Friday, March 29, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Rupee Tumbles To Nearly 2-Year Low Of Rs 48.01 Per Dollar

Rupee Tumbles To Nearly 2-Year Low Of Rs 48.01 Per Dollar

Mumbai, Sep 14: The Indian rupee tumbled to a nearly two-year low of Rs 48.01 per US dollar in early trade today on persistent dollar demand from banks and importers in view of the firming

PTI PTI Updated on: September 14, 2011 12:16 IST
rupee tumbles to nearly 2 year low of rs 48.01 per dollar
rupee tumbles to nearly 2 year low of rs 48.01 per dollar

Mumbai, Sep 14: The Indian rupee tumbled to a nearly two-year low of Rs 48.01 per US dollar in early trade today on persistent dollar demand from banks and importers in view of the firming dollar in overseas markets.


The rupee resumed lower at Rs 47.80/81 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 47.59/60 per dollar, and dropped further to a nearly 2-year low of 48.01 per dollar before quoting at 47.85/86 per dollar at 1030 hours.

The domestic currency had last closed below this level at Rs 48.10/11 per dollar on September 29, 2009.

Sustained dollar demand from banks and importers on the back of a higher dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.

The US dollar rose against its rivals in the Sydney market today, with investors turning to the greenback as Europe's debt troubles continued to give global asset markets the shivers. PTI

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement