Rupee hits 5-week low
Mumbai, Feb 7: The Indian rupee today plunged by 48 paise to 5-week low of 46.73/74 against the US dollar amid the US currency surging to a fresh high level against its rival euro in the overseas foreign exchange market.
Global shares hit three-month lows and the euro fell to an eight-month low against the dollar today as euro zone sovereign debt problems ahead of US jobs data led investors to dump risky assets.
Forex dealers said, the sharp fall in local equities and good dollar demand from banks dragged down the Indian currency. The Indian benchmark Sensex tumbled by 434 points on weakness in the markets world over.
The dollar index, a measure of its performance against six major currencies, rose as high as 80.283, its highest in seven months. At the Interbank Foreign Exchange market, the domestic unit opened lower at 46.
Lastupdate on : Sun, 7 Feb 2010 21:30:00 Makkah time
Lastupdate on : Sun, 7 Feb 2010 18:30:00 GMT
Lastupdate on : Mon, 8 Feb 2010 00:00:00 IST
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