Rupee Lost 35 Paisa
The rupee lost 35 paise to trade at nearly one-month low of 55.20 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on continued demand for the American currency from importers.
Forex dealers said besides dollar’s gain against the euro in the overseas markets, increased demand for the American currency from importers and a lower opening in the stock market also put pressure on the domestic currency.
Forex dealers said besides dollar’s gain against the euro in the overseas markets, increased demand for the American currency from importers and a lower opening in the stock market also put pressure on the domestic currency.
Stock Market Live UpdatesThe BSE benchmark Sensex fell by 115.50 points, or 0.59 per cent, to 19,338.42 in the early trade.
Indian shares extended loses in late morning trades on Friday tracking weak Asian stocks after US House of Representative Speaker John Boehner said that a proposal to avert automatic spending cuts and tax increases failed to muster enough support thereby raising concerns that the world's biggest economy may slip into recession next year.
At 10:20AM, the Bombay Stock Exchange's Sensex index slumped 133 points and traded at 19,323 while the National Stock Exchange's Nifty-50 index declined 46 points at 5,871. Global risk appetite remained frail with Asian markets extended loses in late morning trades as talks to avert a year-end fiscal crisis turned sour.
Indian shares extended loses in late morning trades on Friday tracking weak Asian stocks after US House of Representative Speaker John Boehner said that a proposal to avert automatic spending cuts and tax increases failed to muster enough support thereby raising concerns that the world's biggest economy may slip into recession next year.
At 10:20AM, the Bombay Stock Exchange's Sensex index slumped 133 points and traded at 19,323 while the National Stock Exchange's Nifty-50 index declined 46 points at 5,871. Global risk appetite remained frail with Asian markets extended loses in late morning trades as talks to avert a year-end fiscal crisis turned sour.