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Rupee falls 26 paise to 45.45/47/USD as equity mkts crash

Written by: Staff

Mumbai, May 18 (UNI) The rupee fell sharply by 26 paise closing at 45.45/47 per US dollar as compared to the last close of 45.19/20, said a dealer in the forex market.

Earlier, the rupee opened weaker by 19 paise at 45.38/40 per US dollar as compared to the last close of 45.19/20 on global cues, the forex dealer added.

The Indian currency then fell sharply to 45.50/52 per US dollar in the mid-morning session on the back of nearly 600-point fall on the BSE sensex and weaker Asian markets.

In the afternoon, stock market's benchmark index BSE Sensex fell further to a low of 11,330 points, dipping by 888 points around 1500 hrs, which didn't allow rupee to regain losses.

Reserve Bank of India (RBI) fixed the reference rate at 45.48 per US dollar which was 14 paise down as compared to Wednesday's level.

The six-month forward premia ended lower at 0.90 per cent from the previous close of 1.03 per cent.

The one-year forward premia, too, ended lower at 1.03 per cent from the previous close of 1.09 per cent.

The cross-currency closing rate for rupee against euro was 58.00 (58.25), which was 25 paise down; for pound sterling it was 85.50 (85.65), 15 paise down and for the Japanese yen it was 40.85 (41.33), 48 paise down from the previous close.


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