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Friday, 24 June 2016

Equity Market News-25 June 2016

Rupee feels Brexit heat, sinks to 4-month low at 67.96 

Equity Market News

Spooked by Brexit impact, the rupee plunged as much as 71 paise to settle at a 4-month low of 67.96 against the dollar on fresh demand for the US currency as the latter rose overseas amid a sharp fall in equities 

The rupee had last ended at around this level -- 68.42 -- was on February 29. 

The domestic currency hovered in a range of 67.78 and 68.22 during the day.

The dollar index was trading up 2.80 percent against a basket of six currencies in the late afternoon trade. 

RBI fixed the reference rate for the dollar at 68.01 and euro at 75.10. 

In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13 from 100.20 yesterday and also rebounded against the euro to settle at 74.80 from 76.57. 

The rupee fell against the Japanese yen to 66.26 per 100 yen from 63.61. 

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