Jump to content

Rupee Falls As Recent Gains Overdone


PraniShah

Recommended Posts

The rupee fell as dealers found recent gains to be overdone, while NDF related buying also helps. The pair was trading at 61.30/31 versus 61.04/05 on Tuesday.

"The recent INR upmove appears to be overdone. Let us come back to basics and fundamentals," the chief of dealing at a private bank said. Foreign funds bought Indian cash shares of $64.82 million on Tuesday.

The dollar wobbled near a six-week low against a basket of currencies on Wednesday, hampered by a growing view that the Federal Reserve needs more positive economic data before it decides to start reducing its monetary stimulus. Almost all Asian currencies trading stronger compared with the dollar.

moneycontrol

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • 👍 Join TopGold.Forum Now

    The Most Welcoming & Trustworthy Earning Online Community

    Join over 25,000 members and 700 businesses on their journey to strike GOLD. 💰🍾👍

    👩 Want to make money online? 
    💼 Represent a company? 

⤴️-Paid Ad- TGF approve this banner. Add your banner here.🔥

×
×
  • Create New...