Rupee tumbles to 64.43; Sensex down around 400 points

Aug 21, 2013 |

mumbai

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The rupee hits fresh all-time low, trading around 64.40 per dollar as heavy dollar buying from large state-run banks along with demand from custodian banks hurt the local currency on Wednesday..

The partially convertible rupee was trading at 64.30/40 per dollar, after hitting a record low of 64.40 and down around 1.7 per cent on the day.
Traders said there was no signs of RBI's intervention in the spot market so far during the session.
Next: Sensex down around 400 points; trading below 18,000

Sensex down around 400 points; trading below 18,000
The BSE Sensex and the Nifty fell more than 2 per cent to their lowest intraday level in nearly a year as blue chip stocks including ITC slumped after the rupee hit a record low and on growing concerns that US Federal Reserve may start tapering its monetary stimulus in September.
The Indian rupee weakened past 64.13 per dollar to hit a record low as heavy dollar buying by large state-run banks, along with demand from custodian banks, hurt the local currency on Wednesday.
ITC slumped 5.3 percent while Reliance Industries fell 4.8 per cent.
The BSE Sensex fell 2.09 per cent, while the 50-share Nifty slumped 2.13 per cent, after earlier gaining nearly 2 per cent on RBI steps to ease cash, bond holding rules.

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