Re dips 33p to 59.67 against $
19 July 2013 10:44 PM GMT
The rupee dipped further by 33 paise to close at 59.67 against the Greenback following sustained dollar demand from importers amid firm USD overseas, despite some measures taken by the central bank recently to limit the exchange rate volatility, extending losses for the second straight day.
Continued capital outflows also weighed on the rupee while rally in local equities capped the fall to some extent. In spite of strong steps taken by the Reserve Bank of India (RBI) Monday evening to address exchange rate volatility by curbing liqudity, the rupee continued its downslide for the second day. Persistent dollar demand from importers, in view of firm dollar in the overseas market mainly affected the rupee value against the dollar, a forex dealer said.
Continued capital outflows also weighed on the rupee while rally in local equities capped the fall to some extent. In spite of strong steps taken by the Reserve Bank of India (RBI) Monday evening to address exchange rate volatility by curbing liqudity, the rupee continued its downslide for the second day. Persistent dollar demand from importers, in view of firm dollar in the overseas market mainly affected the rupee value against the dollar, a forex dealer said.
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