Rupee down 17 paise against dollar in early trade

Discussion in 'Politics & Society' started by sasi, Dec 8, 2014.

  1. sasi

    sasi Senior Member Senior Member

    Nov 18, 2012
    Likes Received:
    Mumbai:The rupee weakened by 17 paise to 61.94 against the US dollar in early trade on Monday on fresh demand for the American currency from banks and importers.
    Gains in the US dollar against major global currencies after data last week showed a better-than-expected jump in US jobs creation put pressure on Indian unit, dealers said.
    Fresh demand for the American unit from importers also weighed on the rupee.
    Besides, a lower opening of the domestic equity markets, weighed the rupee, they said.
    The rupee had rebounded 15 paise to close at two-week high of 61.77 against the dollar at the Interbank Foreign Exchange on Friday.
    Meanwhile, the benchmark BSE Sensex fell by 77.17 points, or 0.27 per cent, to 28,380.93 in early trade.

    why we keep ruppee value low,when we're importing more than export!

    We already giving incentives to exports!

    Why give double bonus to exports by keeping ruppee value low!

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