Published On:Tuesday, February 26, 2013
Posted by shikhar
Mumbai: Rupee is continuously decline against Dollar on Tuesday Rupee slipped by 16 paise to Rs. 54.02 a dollar on month-end dollar demand from importers amid firm dollar overseas.
But if we look at the last closing level Rupee is still lower at 53.03 per dollar as compared to 53.86 per dollar at Forex (Interbank foreign exchange market) and moved in Rs. 54 to Rs. 54.09 a dollar range before financial estimating at Rs. 54.02 a dollar at 10.40 a.m..
Dollar demand from importers firmly affected by the transport of oil refineries for rupee value against the dollar, said by FOREX dealer
With Rupee the fall is also seen in euro, in New York, the euro continued to suffer, with a selloff in the currency triggered after doubt about Italy's austerity reforms which urged to emerge in the wake of the country's general election.
In asia oil prices were down after the unresolved or un concluded Italian national elections threatened instability in the country and disrupt the euro zone's recovery, as per the description of analysts.
Light sweet crude for delivery, New York's main contract in April dropped 63 cents to $92.48 a barrel.