Rupee touches new all-time low; at Rs. 60.51/dollar

Rupee is getting weaker as the demand of dollar is increasing with the month-end closing. Due to heavy demand of dollar from importers, Rupee has attained a new all time low at Rs 60.51 per dollar.

With the value of Rs 59.73, market opened on Wednesday and it was expected that Rupee will grow a bit due to the intervention of Reserve Bank of India. Despite that that Rupee did fall and attained Rs 60.25 just in the mid-day.

This is the all-time low value of rupee. As the day progresses, Currency dealers expected that Rupee will be under Rs 60.5. But proving that wrong, Rupee has exceeded the mark and seems to fall more.

As to the experts, they expect that Rupee will fall even more and RBI can’t take any major steps to recover rupee. This is the straight sixth day that rupee is weakening due to huge dollar demand from importers.

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Rupees recovers and ended at 44 against US Dollar

Strong foreign fund flow made rupee bit stronger by one paise in the currency futures market on Tuesday. The fall in Euro was however a concern for the market and investor but proved strong point for Indian currency rupees.

On Tuesday, rupees ended at flat at 44 per dollar. The rupees has also witnessed the lowest rate of 44.53 and highest of 44.28 in the intra-day trading at the currency futures market.

The demand for the rupees at the currency futures market has been volatile and depending on the flow of the foreign fund into the market.

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