Rupee loses 9.50 paise

print   ·   T  T  

MUMBAI: The Indian rupee lost 9.50 paise against the greenback at 39.76/77 on Wednesday, the lowest level in almost three months, on heavy demand for dollar despite a surge in stock markets.

The lowest level before this was recorded on November 28 last year at 39.80/81. The rupee premiums on forward dollar also fell sharply.

At the interbank foreign exchange market, the rupee moved in a range of 39.60 and 39.89.

The rupee had closed at 39.6650/6750 a dollar on February 12. — PTI



Recent Article in BUSINESS

RBI asks banks to create awareness on hedging agri-commodities

The Reserve Bank of India (RBI) on Thursday advised banks to create awareness among their borrowers for hedging agricultural commodity pr... »