Domestic Unit Loses its Grip vs. Greenback in Morning Deal

September 18 17:35 2014

rupee2New Delhi, Thursday, September 18 – The official currency of India lost its footing by 25 paise to 61.17 in opposition to the American unit in the deals witnessed during the morning time today at the Interbank Foreign Exchange market as a result of increase of the greenback versus other units out of the country.

More to the point, a number of forex traders mentioned that in addition to reinforcing of US dollar in opposition to other units in world market post the US Federal Reserve mentioning it would maintain its easy-money policy, augmented demand for the dollar from importers and a feeble start in the local stock market kept stress on the Indian unit.

Subsequent to constant offloading of the US currency by exporters, the domestic unit had finished 13 paise up at 60.92 in opposition to the dollar in the deal witnessed a day ago. In the intervening time, the 30-share barometer tumbled by 118.09 points, or 0.44 %, to be at 26,513.20 in today’s morning deal.