Rupee Dives down yet again, Lowest in 4 ½ Months

rupeeThe Indian rupee crashed to a four-and-half month low against dollar on Wednesday trading at 61.29 per dollar. This is the lowest recorded after March 21.

This quash in the Rupee came as the US dollar recorded its highest against other currencies, and gained positive track in US economy.

The dollar index touched its overnight peak of 81.626 and the last was at 81.544, a slump though but not far away from its peak. The euro languished at $1.3367, having plumbed a nine-month trough of $1.3358.

Some of the other factors are: Domestic Stock Market getting weak. Money pulled back from India by Overseas Investors. Reduction in the purchase of Indian Stocks by the Foreign Institutions. Friday through Monday FIIs sold a net of Rs 2,700 Corers.

The Sensex started 33 points down while 0.21 per cent fall seen in Nifty early in the morning

Medaram Jathara

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