Monday, September 23, 2013

Rupee extends losses against dollar

Updated: Mon, Sep 23 2013.

Mumbai: The rupee weakened on Monday, tracking losses in the stock market, amid sustained dollar demand from importers.

At 2.10 pm, the Indian rupee was trading at 62.6100, compared with its previous close of 62.2775 a dollar. The rupee had opened at 62.5550 a dollar and traded in the range of 62.3350 and 62.71.

Since January this year, the rupee has weakened 12.16% and has lost the third most among Asian currencies, after the Japanese yen and the Indonesian rupiah.

The dollar index, which measures the US currency's strength against major currencies, was trading at 80.421, down from its previous close of 80.431.

India's benchmark equity index, the BSE Sensex, was trading at 19858.66, down 2.03% or 410.44 points from its previous close.

The yield on the benchmark 10-year bond ended at 8.797% up from its previous close of 8.559%.
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