Thursday, February 11, 2016

Today rupee drops by 7 paisa 11 Feb, 2016

The dollar index, which tracks the movement of dollar compared to a basket of six major currencies of world, fell 0.14 per-cent to 95.75.

US Dollar was seen weakening even against major Asian currencies. The Indonesian rupiah went high by 0.71 per cent, Yen of japan moved up 0.61 per-cent and the Malaysian ringgit improved 0.50 per-cent. The Thai baht, the Korean won and the Philippine peso ahead 0.8 per cent, 0.25 per-cent and 0.15 per-cent. But the INR(rupee) did not follow Asian cues. The local currency has been the worst-performing major Asian currency so far current year. It has fallen 2.5 per-cent against the greenback year-to-date, in comparison with the 3.14 per-cent increase in the Indonesian rupiah. Indonesia runs high fiscal deficit like India.

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