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Domestic Currency Plummets in Morning Deal versus American Unit

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Domestic Currency Plummets in Morning Deal versus American Unit

July 15
14:14 2014

rp1New Delhi, Tuesday, July 15 – The domestic currency of India plummeted by a further 11 paise to change hands at 60.187 in opposition to the American unit in morning deal at the Interbank Foreign Exchange market owing to new demand for the dollar from importers and increase of the US currency out of the country

In addition to this, a number of Forex traders mentioned that above and beyond increase of the greenback in opposition to additional units abroad, augmented demand from oil importers for the dollar kept stress on the domestic unit.

On the other hand, dipping inflation and an advanced start in the local stock market put a ceiling on its plunge, they stated further. In the intervening time, the 30-share barometer bounced back by 188.70 points, or say, 0.75%, to be beyond 25,000 mark and touch 25,195.68 in morning deal on July 15.

Not to forget that the rupee had lost 14 paise to end at 60.07 in opposition to the greenback in the earlier session on renewed dollar demand from banks and importers, in the middle of feeble domestic stocks.

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