Rupee down by 11 paise against US dollar
29/08/2016 12:33
The Indian rupee was trading lower against its US counterpart during early morning trade on Monday on fresh demand for the dollar from importers. At the Interbank Foreign Exchange Market, the partially convertible currency was down by 11 paise to 67.18 per dollar from its previous close.
The dollar’s strength overseas against some other currencies weighed on the local currency as investors weighed comments from Fed Chair Janet Yellen who on Friday stressed that the case for monetary tightening in the world’s biggest economy had strengthened, curbing the lure for risky assets.
An earlier than expected Fed move may result in volatility in capital flows into emerging markets including Asia’s third biggest economy.
However, the losses in the rupee were capped by bullish trend across the domestic equity market.
29/08/2016 12:33
The dollar’s strength overseas against some other currencies weighed on the local currency as investors weighed comments from Fed Chair Janet Yellen who on Friday stressed that the case for monetary tightening in the world’s biggest economy had strengthened, curbing the lure for risky assets.
An earlier than expected Fed move may result in volatility in capital flows into emerging markets including Asia’s third biggest economy.
However, the losses in the rupee were capped by bullish trend across the domestic equity market.
