News X: Rupees breaches 62 marks against Dollar
- 5 years ago
Glim news coming in from the economy front. Rupee has breached another all-time-low by hitting 62 against the dollar.
As compared to its closing on 61.43 on wednesday . Rupee slided further by 1% to go down to 62.03 against the dollar. It recovered later.
Amid strong dollar demand from foreign funds the RBI measures to curtail the down slide were ineffective.
There are worries about a rollback of U.S. monetary stimulus, which could lead to a sharp exodus of funds from the country. This is creating difficulties in financing the record current account deficit.
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive
As compared to its closing on 61.43 on wednesday . Rupee slided further by 1% to go down to 62.03 against the dollar. It recovered later.
Amid strong dollar demand from foreign funds the RBI measures to curtail the down slide were ineffective.
There are worries about a rollback of U.S. monetary stimulus, which could lead to a sharp exodus of funds from the country. This is creating difficulties in financing the record current account deficit.
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive