|
Rupee ends at 57.12 after slipping to 57.33 against a dollar
Friday June 22, 2012 06:43:42 PM,
IANS
|
|
|
|
|
Mumbai: The Indian
rupee hit a record low for the second consecutive day Friday and
slumped below the psychological resistance level of 57 to a dollar
for the first time on increased demands for the American currency
by oil and gold importers.
The partially convertible rupee closed at a record low of 57.12 to
a dollar, down 1.47 percent from its previous day's close.
The rupee hit a new record low of 57.33 in the intra-day Friday
after surpassing the previous record low of 56.57 hit Thursday.
The rupee closed in the negative for the fifth consecutive
session. The value of rupee has declined sharply since Fitch cut
its outlook on India's sovereign ratings to "negative" from
"stable".
Fitch has become the second credit ratings agency after Standard
and Poor's to cut its outlook threatening India's investment grade
ratings.
Both these agencies assign India the lowest investment grade.
In its mid-quarterly review of the monetary policy announced June
18, the Reserve Bank of India also disappointed the markets by
keeping interest rates unchanged.
RBI Governor D. Subbarao said early this week that the central
bank would intervene in the currency markets only to contain
volatility of rupee.
|
|
Home |
Top of the Page
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Top Stories |
|
Presidential contest: NDA, Left divided over Pranab; BJP backs
Sangma
It is
official. UPA nominee Pranab Mukherjee will face former Lok Sabha
speaker P.A. Sangma in the July 19 presidential election
»
Sangma quits NCP, set to take on Pranab
NCP cautions Sangma, says he will withdraw
|
|
|
|
Most Read |
|
Mantralaya fire continues second day
The fire in
the Maharashtra Mantralaya or secretariat which claimed two lives,
and injured over a dozen more here continued Friday morning
»
Two killed,
16 injured in Mantralaya fire, blaze under
control
|
|
Race for Pakistan PM: PPP drops Shahabuddin, names Ashraf
Tipped
earlier as a covering candidate, Raja Pervez Ashraf of the
Pakistan Peoples Party (PPP) was Thursday named the party's main
candidate for the office of prime minister following the issue of
a non-bailable arrest warrant against
»
Five in race for Pakistan PM's post |
|
|
|
News Pick |
|
 IIT Delhi also rejects CET, to have own exam
The Indian
Institute of Technology-Delhi (IIT-Delhi) too Thursday rejected
the government's proposal of a single entrance test and instead
decided to conduct a separate
» |
|
India's higher education is 'world
standard': Indonesia
Indonesia and India need to increase cooperation in
various fields and Jakarta welcomes investment from New Delhi
particularly in higher education which is of "world standard", a
top Indonesian official
» |
|
Over 80 killed in violence in Myanmar
More than 80 people have been killed in a wave of communal
violence in western Myanmar this month, a government official said
Thursday. He said about 71 people had died in more than a
week of clashes, in addition
»
|
|
 Palestinians plan to attract Muslims back to Al-Aqsa Mosque
The Haram Mosque in Makkah and the Prophet’s Mosque in Madinah,
the two holiest shrines in Islam, draw millions of pilgrims
annually. However, Al Aqsa Mosque, the third holiest shrine, sees
only a few thousand foreign worshippers a year. The first two holy
mosques are in Saudi Arabia, while Al-Aqsa
» |
|
|
|
Picture of the Day |
|
 |
|
A major fire broke out Thursday afternoon in room 411 on the
fourth floor and quickly spread, engulfing the three top floors of
the six storied iconic Mantralaya building in the heart of South
Mumbai.
(Photo: Rahul More) |
|
|
|
|
Comments
|
Quick links