Millennium Post

Rs slips 13p to 6-month low of 55.59 per $

Mumbai:  Extending losses for the fifth straight session, the rupee on Thursday lost 13 paise to end at an 6-month low of 55.59, due to sustained dollar demand from importers amidst weakness in local equity markets.
The local currency resumed sharply lower at 55.85 a dollar from Wednesday’s close of 55.46 on the Interbank Foreign Exchange market and dropped further to 56.01 before ending at 55.59, showing a loss of 13 paise, or 0.23 per cent.
It moved in a wide range of 56.01 and 55.54 during the day. This is rupee’s lowest closing since 55.73 on 26 November, 2012.
In London, the dollar and the euro fell by more than two percent against the yen on Thursday as investors opted for safe-haven currencies on increasing prospects the U.S. Federal Reserve might pare back its stimulus programme.
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