The rupee on Monday touched the 52/$ mark for the first time in 32 and half months on the back of weakening domestic equities weakened and oil importers buying dollars.
Rupee had hit an all time low of 52.18/$ on March 3, 2009. According to Brijen Puri, head of forex trading, JP Morgan, level of 52.18/$ is definitely on the cards for rupee unless some good news emanates from Europe going forward or sustained RBI action is seen. He further said that the intensity of the fall seen in rupee is directly or indirectly driven by stress seen in Europe. Below is the edited transcript of PuriDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
