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Thursday 15 December 2011

Rupee loses 61 paise to early low of Rs 54.32 per dollar

Rupee loses 61 paise to early low of Rs 54.32 per dollar

MUMBAI: The Indian rupee breached the Rs 54 per dollar-mark in early trade on Thursday, tumbling by 61 paise to Rs 54.32 per dollar on sustained demand for the American currency from banks and importers amid a stronger dollar in overseas market and persistent foreign capital outflows.

The rupee resumed lower at Rs 54.20/21 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.71/72 per dollar, and dropped further to Rs 54.32 per dollar before quoting at Rs 54.28/29 per dollar at 1030 hours.

Sustained foreign fund capital outflows in view of the fall in the equity market, coupled with a stronger dollar in global markets, mainly affected the rupee value against the American currency, a forex dealer said. 

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