The rupee on Tuesday May 22 dropped down to a new shortfall of 55.35 per dollar in the afternoon business, in spite of RBI’s taking steps to restrain the constant fall.
The domestic unit at interbank foreign exchange market, toppled by 32 paise to deal at a new dip of 55.35, because of the tough dollar claim from the importers after the US currency benefited in the overseas markets.
Besides the last closing level where the rupee stood at 55.03 per dollar, it had now recommenced higher at 54.60 per dollar
As per the dealers, after the heightened tensions over euro-zone crisis, the domestic currency had blotted out all the benefits to trade at all time lows in the late afternoon.
The BSE benchmark Sensex index descended by 151.80points to deal at 16,031.46 points in pre-close session.
According to the Organization for Economic Development and Cooperation (OECD), “As because the euro-zone has strengthened, it also positions the most crucial endanger to a silent improvement in the global economy.”
The euro weakened against the dollar and yen in Asian business market over euro-zone has brought loads of tensions.
The RBI giving a notification told, “The placement limitation for trading member bank in the dealings for trading ‘Currency Futures and Options’ shall be $100 million or 15% of superb open interest, whichever is meagre.”
It has even recommended the banks dealing in foreign currency to fetch down their trading restrictions by June-end.
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