Rupee Falls By 24 Paise Against Dollar

The rupee, in the shortened week, depreciated by 24 paise or 0.47 per cent against the US currency.

"The Indian currency markets witnessed one of their shortest trading days in the week. The rupee, on the very first day of its trade, opened on a strong note, but pared gains on the very same day and weaken on the last day," Pramit Brahmbhatt, CEO, Alpari Financial Services (India) Pvt Ltd said.

"Bunched up FII inflows due to short trading schedule and weakening dollar aided the rupee for a strong opening. The prices then pared gains on weak Q3 BoP numbers and extended their weakness on the last day also due to fall in domestic stocks," he said.


From: http://ping.fm/3FgGB