INDIA: The rupee dropped by 27 paise to Rs 54.28 against the US money in beginning business on Wednesday at the Interbank International Return industry on building up of the United states currency trading offshore.
Forex traders said besides dollar's profits against european in the offshore marketplaces, a poor starting in the currency trading marketplaces also put stress on the household currency trading.
The BSE standard Sensex dropped by 61.35 points, or 0.30 %, to 18,480.96 in beginning business.
The rupee had obtained 29 paise to close at a four-month high of 54.01 against the US money last night on solid investment inflows amongst Source Financial institution infusing Rs 17,000 crore into system by way of a cut in Cash Source Rate.
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