Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessMarketsRupee at day's low, resistance at 53.51

    Rupee at day's low, resistance at 53.51

    The rupee fell to intraday low of 53.44 as worries mount about India's fiscal and economic challenges, as well as continued uncertainty about taxation for overseas investors, sparking worries of continued foreign outflows.

    May 03, 2012 / 15:14 IST

    The rupee fell to intraday low of 53.44 as worries mount about India's fiscal and economic challenges, as well as continued uncertainty about taxation for overseas investors, sparking worries of continued foreign outflows.

    Dollar purchases from oil importers, foreign banks also pushing up pair.

    USD/INR breaks above minor resistance at 53.25, the top of the channel from the gains since early March.

    Next immediate resistance is at 53.51, the December 29 high.

    first published: May 3, 2012 02:46 pm

    Discover 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!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347