The Hindu : Rupee weakens further

Online edition of India's National Newspaper
Saturday, November 24, 2001

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Business \| Previous \| Next Rupee weakens further MUMBAI, NOV. 23. The rupee weakened further against the U.S. currency today, dragged down by steady dollar demand from banks, but ended off intraday low in fairly choppy two-way trading at the interbank foreign exchange market. Closing at 48.0400/0450 a dollar, the rupee lost another 1-3/4 paisa from Thursday's finish of 48.0225/0275 after dipping to intraday low of 48.05/06. It opened softer at 48.0250/0350. The domestic currency declined by a steep 6-1/4 paise yesterday, pulled down by all round dollar demand following the downgrading of India's sovereign ratings by global credit rating agency Fitch. Earlier, two other international rating agencies - Standard & Poor's and Moody's - had already downgraded the currency ratings. - PTI Send this article to Friends by E-Mail
Section : Business Previous : Stocks react afresh on profit selling Next : 12 States to keep VAT deadline
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Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Entertainment \| Miscellaneous \| Features \| Magazine New \| Metro Plus New \| Open Page New \| Education New \| Book Review New \| Business New \| SciTech New \| Entertainment New \| Classifieds \| Employment \| Obituary \| Index \| Home

Business \| Previous \| Next Rupee weakens further MUMBAI, NOV. 23. The rupee weakened further against the U.S. currency today, dragged down by steady dollar demand from banks, but ended off intraday low in fairly choppy two-way trading at the interbank foreign exchange market. Closing at 48.0400/0450 a dollar, the rupee lost another 1-3/4 paisa from Thursday's finish of 48.0225/0275 after dipping to intraday low of 48.05/06. It opened softer at 48.0250/0350. The domestic currency declined by a steep 6-1/4 paise yesterday, pulled down by all round dollar demand following the downgrading of India's sovereign ratings by global credit rating agency Fitch. Earlier, two other international rating agencies - Standard & Poor's and Moody's - had already downgraded the currency ratings. - PTI Send this article to Friends by E-Mail
Section : Business Previous : Stocks react afresh on profit selling Next : 12 States to keep VAT deadline
Front Page \| National \| Southern States \| Other States \| International \| Opinion \| Business \| Sport \| Entertainment \| Miscellaneous \| Features \| Magazine New \| Metro Plus New \| Open Page New \| Education New \| Book Review New \| Business New \| SciTech New \| Entertainment New \| Classifieds \| Employment \| Obituary \| Index \| Home
Copyright © 2001 The Hindu Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu