Rupee Falls to Two Month Low

January 31st, 2011
in Banking, econ_news


rupee The Times of India: The rupee lost 14 paise today to end at a fresh two-month low of 45.90/91 against the dollar on month-end demand for the US currency amid increased capital outflows.

Follow up: dealers said that the initial dip in the rupee value was due to early steep fall in local equities where the Bombay Stock Exchange benchmark Sensex was down by over 357 points. Besides, China, all other Asian indices too ended in the red on worries over the instability in Egypt. Continued capital outflows weighed heavy on the rupee sentiment, they added.

Foreign Institutional Investors (FIIs) pulled out USD 129.51 million on last Friday, taking a total over USD 1.0 billion in current month till January 28.
Read more at The Times of India.....

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