Rupee ends at 22-month low

Good for me, bad for many foreigners living here. As the Rupee has been on a wild train ride lately, I've heard many foreigners complaining of the rupee's fluctuation – I can't say I blame them. With Sally facing the prospect of a local salary, we ourselves will soon face the stark reality of fluctuating income levels. You see, the Rupee has gone from a low of 42.25 to the dollar to today's high over 45. This is a 5% swing in the last 3 months!

At 10:37 a.m. (0507 GMT), the partially convertible rupee <INR=IN> was at 45.05/10, 0.5 percent weaker than Tuesday's close of 44.84/85. It hit a low of 45.20 during trade, its weakest since Nov. 16, 2006. The rupee has shed 2.4 percent in September. "There is some offshore related dollar buying in line with the weaker regional stocks which is pushing the rupee lower," a senior dealer with a private bank said.

1 comments:

chandni said...

hello!

discovered ur blog recently, like reading it and thought i'll drop by to say Hi!