Source: The Hindu Businessline
Our Bureau Mumbai, Feb 15
The rupee fell to 54 against the dollar in intra-day trade as demand from oil importers and the wait for cues from G-20 meeting in Moscow weighed on the Indian unit. The domestic currency opened flat at 53.91 (previous close: 53.92) as the currency traders remained cautious ahead of the crucial Moscow meet.
During the meeting over Friday and Saturday, leaders are likely to discuss the recent move by some countries (strong export-oriented nations) to devalue their currencies artificially and the impact it could have on the world economy. A likelihood of a yawning gap in the current account data for the third quarter and the current fiscal is likely to keep the rupee pressurised.
(Source: The Hindu Businessline)