Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Money / Rupee extends losses as shares fall; dollar gains
BackBack

Rupee extends losses as shares fall; dollar gains

Rupee extends losses as shares fall; dollar gains

Premium

Mumbai: The Indian rupee extended its fall in afternoon trade on Thursday weighed by losses in domestic shares and tracking the dollar’s rise versus major currencies overseas.

At 1:40pm, the partially convertible rupee was at Rs46.57/58 per dollar, weaker than its previous close of Rs46.20/21.

Shares fell on Thursday as Asian markets weakened on doubts about the pace of global recovery and worries about the risk of steps to temper capital inflows weighed on sentiment.

Dealers said there were concerns over imposition of capital controls in Asia after Brazil took another step on Wednesday aimed at containing the appreciation of its currency, unveiling a 1.5% tax on certain trades involving American Depositary Receipts issued by Brazilian companies.

The dollar and the yen rose on Thursday as investors, watching soft equities performances and capital controls in emerging markets, closed out positions in riskier currencies and bought back the two low-yielders.

One-month offshore non-deliverable forward contracts were quoting at Rs46.60/70, weaker than the onshore spot rate.

In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX were quoting at 46.5625 and 46.5650 respectively, with the total traded volume on the two exchanges at about $1.7 billion.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 19 Nov 2009, 02:22 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App