Monday, June 9, 2008
Rupee resumes sharply lower against dollar
Rupee opened sharply lower against dollar at Rs 42.90/93 per dollar on
Monday due to rising demand for the US currency at the Inter Bank
Foreign Exchange market.
The domestic currency dropped by 24 paise to Rs 42.90/93, against the
previous close of Rs 42.66/68, due to good demand for dollar from oil
companies in view of rising crude oil prices in the international
market.
In the global market crude oil prices were trading at about USD 137 a
barrel.
Meanwhile, the BSE benchmark index, Sensex was down over 700 points at
11:30 hrs on concerns over rising crude prices and inflation.
The rupee was quoted at Rs 42.89/91 per dollar at 10:30 hrs.
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