Rupee at 62.12, down 38 paise against dollar

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Rupee at 62.12, down 38 paise against dollar

#1 Postby Shivani » Fri Sep 20, 2013 10:46 am

The rupee on friday opened at 62.12 Vs. Dollar, just ahead of RBI's Governor debut monetary policy review..On thursday rupee surprised everyone with a great hike in value against dollar, it closed on 61.77 which was more than one-month high.And, the same happened due to US Federal Reserve's surprise decision on retaining its stimulus programme.

But on Friday, again it slipped by 38 paise against dollar..due to fresh demand for the US currency from importers.So, now-a-days rupee is on choppy ride, and someday this may surprise or someday it will again force you to think if the economy is really in a recovery phase...or these are just normal ups & downs which usually occur in a developing economy.

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