Indian Rupee Comes Down by Seven Paise in Starting Phase of Trade

Posted on 31 December 2009 by Siddhi Sharma


On the first day of 2010 the Indian rupee decreased in worth by 7 Paise beside the US $ as firm demand for the US $ that went up to 3-4 month high against any other foremost used currencies.

At the Inter bank Forex (Foreign Exchange) mkt, the household unit dealt with 7 paise downward at 46.60 a dollar. In the preceding trading the rupee had finished at 21 paise upper at 46.53/54 one $. [smartads]

Traders said the $ go up to a 3-4 elevated against yen (Japanese) after news that United State jobless asserts cut down to the lowest since the year 2008 putting strain on the Rupee.

It is said that demand for the $ from importers & refiners of oil also weighed on rupee view.

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