Indian Rupee Slips To 6-day Low Against US Dollar

Date : 04/30/2012 @ 8:15AM
Source : RTTF2
Stock : United States Dollar (B) VS Indian Rupee Spot (USD/Inr) (USDINR)
Quote : 66.224  0.0 (0.00%) @ 7:31PM
United States Dollar vs Indian R share price Chart

Indian Rupee Slips To 6-day Low Against US Dollar

United States Dollar vs Indian R (FX:USDINR)
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The Indian rupee reached a 6-day low of 52.76 against the US dollar on Monday despite a rally in stocks as the latter firmed up on heavy demand from importers ahead of a public holiday tomorrow.

Indian shares ended today's session on a firm note, with hopes for more monetary stimulus from the U.S. Federal Reserve underpinning sentiment.

The Fed gave no hint of more bond-buying last week but that didn't deter investors from speculating on the Fed's next move, given recent downbeat economic data and the uncertain economic outlook.

The benchmark 30-share Sensex ended the session up 131 points or 0.76 percent at 17,319, while the broader Nifty index rose by 39 points or 0.75 percent to 5,248.

The rupee is now poised to extend losses beyond last week's multi-month low of 52.88. The market is expecting the rupee to break below the key 53.0 mark for the first time since January 5.

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