SEARCH

Rupee plummets

print   ·   T  T  

MUMBAI: Reeling under severe pressure, the rupee plummeted to near six-month closing low of 46.28/30 a dollar on Tuesday after banks stepped up their dollar purchases for customary month-end considerations and custodian requirements amid reduced dollar supplies. Nervousness once again gripped the interbank foreign exchange market and eroded another 20 paise due to sustained heavy dollar demand.

Despite a firm opening of 46.05/07 a dollar on the back of a dollar rebound, the rupee tumbled to multi-month low of 46.28/30. PTI


O
P
E
N

close

Recent Article in BUSINESS

GOOD SIGN:In its new refurbished avatar, the PPP (public private partnership) model of developing large power projects too should witness a positive turnaround.

More horse power for the energy sector

Double-digit growth will not be possible without adequate power to industry and people »