Friday, September 9, 2011

Indian Rupee hits 52 week Low against USD

INR vs USD 1 Year Chart

Persistent dollar demand from banks and importers on the back of a higher dollar in the New York market mainly affected the rupee value against the American currency.

In New York, the dollar extended its gains yesterday after Federal Reserve Chairman Ben Bernanke said he wasn't worried that the increase in inflation earlier this year would persist, but he didn't elaborate on  how the central bank could ease the rate of price rise further.

The Indian rupee fell by 31 paise today against USD to touch a fresh one-year low of Rs 46.50 per US dollar in early trade today.

No comments:

Post a Comment

15 Stock Investment Tips from Rakesh Jhunjhunwala

1. Always go against tide. Buy when others are selling and sell when others are buying.  2. If you believe in the growth prospects o...