Thursday, 29 October 2015

Rupee Trading Weak At 65.24

The rupee was trading weak at 65.24 in the evening deals on strong month-end dollar demand from importers.

Besides, strengthening of dollar against other currencies overseas after Federal Reserve's hawkish comments weighed on the rupee sentiment. Also, weak equity market put pressure on rupee.

The US Federal Reserve had kept interest rates unchanged on Wednesday, but signalled it may increase its policy rates at the next meeting in December, stoking fears of foreign fund outflows from domestic markets.

Earlier, the rupee opened weak by 27 paise at 65.20 against the previous close of 64.93 at the Interbank Foreign Exchange market.

It further weakened to 65.25 before being quoted at 65.24, down 31 paise at 4.35 pm local time.

The local currency hovered in a range of 65.25 and 65.12 in the afternoon trade.

Meanwhile, the benchmark Sensex ended down by 201.62 points or 0.75 per cent at 26,838.14.

Source:- http://ift.tt/MS42Fr



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