Rupee hits 30-month low on fears of FII outflows

The rupee slid to its weakest level in 30 months on Friday on expectations of foreign fund outflows from domestic shares on a sudden bout of risk aversion ahead of the euro zone summit over the weekend.

hidden October 21, 2011 09:55:17 IST
Rupee hits 30-month low on fears of FII outflows
Rupee hits 30month low on fears of FII outflows

Reuters

The rupee slid to its weakest level in 30 months on Friday on expectations of foreign fund outflows from domestic shares on a sudden bout of risk aversion ahead of the euro zone summit over the weekend.

At 9:07 am, the partially convertible rupee was at 50.14/15 per dollar, after hitting 50.18, its lowest since April 29, 2009 and 0.7 percent below its Thursday's close of 49.79/80.

Reuters

Updated Date:

also read

Rupee falls 17 paise to close at 79.32 against US dollar
India

Rupee falls 17 paise to close at 79.32 against US dollar

On Wednesday, the rupee had slumped by 62 paise to close at 79.15, marking its worst single-day fall in the current fiscal year

Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome
Business

Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome

The RBI's rate-setting panel - the Monetary Policy Committee - will announce its bi-monthly review later in the day. Persistent foreign fund inflows into capital markets and softening crude oil prices boosted the local currency

Rupee falls 40 paise to close at 79.64 against US dollar
Business

Rupee falls 40 paise to close at 79.64 against US dollar

At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar. It oscillated between a high of 79.45 and a low of 79.65 during the session