SME Times News Bureau | 15 May, 2012
The rupee on Monday closed at all-time low of 53.96 a dollar amid rising inflation and risk aversion by global investors.
The rupee resumed lower and dropped further to end at all-time closing low of 53.96 per dollar, showing a loss of 33 paise after inflation rising to 7.23 per cent in April dampened investor sentiment.
Euro fell to 1.2868 from 1.2925 late Friday in New York. The dollar rose to 80.05 against the yen from 79.90.
In London, Sterling hit a three-week low against the dollar today as political deadlock in Greece curbed investor appetite for risk and fed safe-haven demand for the greenback.
Meanwhile, the BSE benchmark index Sensex today lost 77 points to end at 16,215.84.
The rupee premium for the forward dollar closed higher on fresh paying pressure from banks and corporates.
The benchmark six-month forward dollar premium payable in October ended up at 158-160 paise from last weekend’s level of 156-158 paise and far-forward contracts maturing in April also finished higher at 270-272 paise from 267-269 paise previously.
The RBI fixed the reference rate for the US dollar at 53.7118 and for euro at 69.2260.
The rupee declined further to 86.72/74 against the pound sterling from last Friday’s close of 86.40/42 and also moved down against the euro to 69.44/46 from 69.38/40. It too remained weak against the Japanese yen to 67.62/64 per 100 yen from last close of 67.10/12.
