Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Nepal protests
  • Nepal Protests Live
  • Vice-presidential elections
  • iPhone 17
  • IND vs PAK cricket
  • Israel-Hamas war
fp-logo
Rupee posts biggest single session fall in 3 weeks
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Fwire
  • Rupee posts biggest single session fall in 3 weeks

Rupee posts biggest single session fall in 3 weeks

FP Archives • December 20, 2014, 15:09:42 IST
Whatsapp Facebook Twitter

The partially convertible rupee ended at 49.335/345 per dollar, 0.7 percent down from its previous close, making it the largest single session drop since Sept 22.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
On
Google
Prefer
Firstpost
Rupee posts biggest single session fall in 3 weeks

Mumbai: The rupee snapped a three-day rally to post its biggest single session fall in nearly three weeks on Tuesday as dollar demand outstripped supply and domestic equities turned choppy.

The euro’s retreat from its intraday high on caution before a key vote on proposed changes to the euro zone’s rescue fund also weighed on the rupee, traders said.

[caption id=“attachment_105210” align=“alignleft” width=“380” caption=“The euro’s retreat from its intraday high on caution before a key vote on proposed changes to the euro zone’s rescue fund also weighed on the rupee, traders said. Reuters”] ![](https://images.firstpost.com/wp-content/uploads/2011/10/rupee-reuters3.jpg "An employee counts Indian rupee notes at a cash counter inside a bank in Agartala") [/caption]

STORY CONTINUES BELOW THIS AD

The partially convertible rupee ended at 49.335/345 per dollar, 0.7 percent down from its previous close, making it the largest single session drop since Sept 22, when the unit had dipped 2.5 per cent.

More from Fwire
BCCI earned more than Rs 2,400 crore in IPL 2022, reveal documents BCCI earned more than Rs 2,400 crore in IPL 2022, reveal documents Eight Russian judokas barred from world championships after Ukraine boycott Eight Russian judokas barred from world championships after Ukraine boycott

The unit moved in wide band of 48.86 to 49.39 during trade. “Inflows dried up as usually is the case after a holiday in the United States, while outflows increased due to demand, making it a largely one-sided market,” said Ashtosh Raina, head of foreign exchange trading at HDFC Bank.

Traders said demand for the greenback came from domestic oil companies, corporates and possibly for defence related payments. Oil is India’s largest import item and oil refiners are the biggest buyers of dollars in the local market.“Rupee’s move on Wednesday will depend upon overnight developments in the euro zone and US markets,” Raina added.

The local currency had gained in opening trades, supported by a rise in the euro and domestic equities. However, Indian shares erased early gains of more than 1 per cent and snapped a two-day rise to end 0.1 percent lower.

“Early on, people had gone short on the dollar expecting the rise (in rupee) to continue, but towards afternoon the demand just surged ahead negating supply and caught some on the wrong foot, prompting a trimming of the short positions,” said a dealer with a state-owned bank.

The euro dipped on caution over a Slovak vote on changes to the euro zone’s rescue fund, but it held in positive territory for the week after hopes for a solution to the debt crisis sparked a squeeze of short positions in the currency.

STORY CONTINUES BELOW THIS AD

Slovakia is the only one of the euro zone’s 17 members that has yet to ratify changes to the 440-billion-euro European Financial Stability Facility.

The euro was at $1.3611 at end of rupee trade, higher than $1.3592 on Monday but weaker than its intraday high.

The index of the dollar against six major currencies was at 77.739 points versus 77.808 points on Monday.

PTI

Tags
Rupee NewsTracker United States dollar Foreign exchange market Currency
End of Article
Written by FP Archives

see more

Latest News
Find us on YouTube
Subscribe
End of Article

Top Stories

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV