Rupee Crashes Again, Back At Record Low Near 65.35

August 27, 2013

[b] [b]Rupee dives 65/$, BSE Sensex loses over 200 points[/b][/b]

The market is getting slaughtered once again in early morning trade as the [url="http://www.moneycontrol.com/sensex/bse/sensex-live"]Sensex[/url] loses 227.31 points or 1.22 percent at 18330.82 while the [url="http://www.moneycontrol.com/nifty/nse/nifty-live"]Nifty[/url] slips 73.50 points or 1.34 percent at 5403.00.

The Indian rupee opened weak by 70 paise at 65 per dollar versus 64.30 yesterday.

Pramit Brahmbhatt, CEO, Alpari India said, "Rupee is tracking cues from EMs (emerging markets) and trading weak. Month-end dollar demand from oil importers will put further pressures on the rupee. However, selling of dollar by state sponsored banks might reverse the trend. Rupee may breach recent lows if overall sentiment does not improve. The range for the day is seen between 64.10 to 65.35/USD."

The dollar index was trading at 81.28, while the euro drifts lower to USD 1.3368, partly weighed by worries about Italy.

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