Mumbai, Aug 27 (PTI) : The rupee today breached the 66-mark against the dollar for the first time in history and quoted at 66.06 at mid-session.
The Indian currency declined amid weak local equities and demand for the dollar from importers and banks. A strong US currency overseas and capital outflows also weighed on the rupee.
The rupee opened lower at 65 from yesterday's close of 64.30 and continued to slide to 66.06, down by 176 paise. It quoted at 65.97 against the dollar at 1400 hours. The previous lifetime low of 65.56 was reached on August 22.
Month-end dollar demand from importers, mainly oil refiners, and some banks on behalf of their clients put pressure on the rupee.
Dealers said the Food Security Bill, which was passed by the Lok Sabha yesterday, has raised fears that the government might face a higher subsidy burden.
Finance Minister P Chidambaram said in New Delhi today that the currency is undervalued and hoped it will find its appropriate level.
Chidambaram also said the fiscal deficit will be contained at 4.8 per cent of GDP even after doling out subsidies to implement the Food Security Bill.
The benchmark S&P BSE Sensex stock index was down by more than 575 points in afternoon. Foreign institutional investors pulled out a net Rs 607.43 crore of stocks yesterday, as per provisional data with the exchanges.
Comment on this article
Mendonca, kudla
Wed, Aug 28 2013The Indian rupee plunged dramatically on Tuesday, August 27, slumping 4.66 per cent in a matter of a few hours to yet another historic low, of Rs18.30 against the UAE dirham (Rs67.23 against the US dollar), baring the rout in the currency, which is now down more than 23 per cent since the beginning of the year.
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VOX POPULI, Bangalore / Mangalore
Wed, Aug 28 2013THANK GOD., UNDERWEAR KA NAAM *DOLLAR* AUR *EURO* HAI? AGAR *RUPEE* HOTA TOH BAAR BAAR GIRTHA THA? AUR AISI GIRAVAT KO SAMBHALNA BADA MUSHKIL THA? FIT HAI BOSS?
HA...HA..HA... JAI HO..
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LEO, DXB
Wed, Aug 28 2013Few months after 26/11, Taj group of Hotels owned by TATAs...
launched their biggest tender ever for remodeling all their Hotels
in India and abroad. Some of the companies who applied for that tender were also Pakistanis. To make their bid stronger, two big industrialists from Pakistan visited Bombay House ( Head office of Tata ) in Mumbai without an appointment to meet up with Ratan Tata since he was not giving them any prior appointment. They were made to sit at the reception of Bombay house and after a few hours a message was conveyed to them that Ratan Tata
is busy and can not meet anyone without an appointment.
Frustrated, these two Pakistani industrialists went to Delhi and thru their High Commission met up with a Minister. The minister immediately called up Ratan Tata requesting him to meet up with the two Pakistanis
Industrialists and consider their tender "enthusiastically ly". Ratan Tata replied..."you could be shameless, I am not" and put the phone down. Few months later when Pakistani government placed an order of Tata Sumo's to be imported into Pakistan, Ratan Tata refused to ship a single vehicle to that country. This is the respect and love for motherland that Ratan Tata has. Something that our current Politicians should learn from. Hatts off to you sir..
Awake Country men, the Nation is above everything else.
>>> MUST SHARE <<<
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SHASHI, CANADA
Tue, Aug 27 2013INDEPENDENCE DAY GIFT TO THE NATION FROM UPA...RUPEES HAS BEEN FALLING TREMENDOUSLY FROM 15tH AUGUST 2013.....INDIA IS IN THE SAME LEVEL AS BANGLADESH,NEPAL,PAKISTAN ETC/////
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Neeraj Fernandes, Mangalore
Tue, Aug 27 2013I cant find Jossy Mumbai's comment now... If it was against BJP then he was the first one to comment.. now where are you Mr?
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Shameer, UAE
Tue, Aug 27 2013NRI's.....make hay while the Sun shines. Purchasing property right now is the best thing. As it is in Mangalore property prices have always been in a upward trend..Never saw a downward trend so far.
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leo, DXB
Tue, Aug 27 20131.2.3 4...shake on the sensex floor...Rupee falling hichck..hichik...jordar..hichik hichik.....NRI saying give me some more..more .... 1..2.3.4....get on the dance floor.....NRI LAUGHING HICHIK HICHIK...MAPUSA GUY GOES ...MISSSING MISSING.....ISMAIL PERINJE NOT TO BE SEEN ANY MORE MORE...1234...DANCE ON THE DOLLAR FLOW......
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R.N. Pujari, Manglore - Mumbai
Tue, Aug 27 2013Rs.66 even we are not out still playing for century oh my god save US not US.....Swiss bank has become our Reserve bank and our own Reserve bank has become Reverse bank ,if elect UPA - III, 1$ will be Rs.104 just like Pakistan. So are we going to be as bad as Pakis?
THINK SOON TOILETS PAPERS ON AIRPORTS OF INDIA WILL BE REPLACE BY RUPEE NOTES WHICH WILL WORK OUT CHEAPER AND ATTRACTIVE & NOW CONGRESS TUGS ARE THINKING TO INTRODUCE RS. 10,000 NOTES WITH DAWOOD IBRAHIM - HAFIZ SAEED AND PAPPU PHOTO TO WIN NEXT ELECTION.
GOD BLESS THE NATION.
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Noel, Neermarga, Mangalore
Tue, Aug 27 2013India is in a falling trend.(Rupee value, Share market Index etc.)
Our economy needs support very badly or else, the biggest fall (Government) is inevitable.
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Tony Pinto, Mumbai - Dubai
Tue, Aug 27 2013There is RSS hand in this problem - Digvijay Singh........hahhahahah
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ನ್ಯಾಯಕ್ಕಾಗಿ , ಅಬುಧಾಬಿ / ಉಬಾರ್
Tue, Aug 27 2013ರೂಪಾಯಿನ್ ಗಟ್ಟಿ ಪತೊನ್ಲೆ,ಇಜ್ಜಂಡ ಎಲ್ಲೆ ಸೆಂಚುರಿ ಆವು !
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Noel, Neermarga, Mangalore
Tue, Aug 27 2013Things in India are in a falling trend.
Our economy needs support very badly or else, the biggest fall (Government) is inevitable.
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indian, kateel
Tue, Aug 27 2013Indian Rupee tumbles to 66.06 to the USD. All this while the government unabashedly spends public money on grandiose subsidy schemes and extravagant advertising campaigns highlighting its so-called achievements. The UPA's modus operandi is obvious - first indulge in blatant and brazen corruption for four years, don't do anything substantial for the people who voted you to power and then in the last few months of your term as the general elections approach, do something populist that will act as the 'game changer' and bring you back to power. Congress is a supremely intelligent political party. They may not know how to govern a country but they surely know how to win an election. Unless the BJP and other opposition parties don't learn the tricks of the game, they'll once again see themselves relegated to mere spectators for another 5 years.
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Noel , Neermarga, Mangalore
Tue, Aug 27 2013Shetre,
Mapussa man may be busy evaluating his 47 acres of land against $/INR ?
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sujith polali, mangalore
Tue, Aug 27 2013EARGARLY WAITING FOR EXPERT COMMENTS WHICH..REACH MORE THAN 300 PLUS WHEN IT COMES TO A NEWS AGAINST MODI ..ALL PEPOLE SHOULD COMMENT NOW
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sujith madivala, polali,mangalore
Tue, Aug 27 2013This is what is given & driven by CONGRESS...pepole of India staying outside of India should thank the govt for working in favor of those Indians who are staying abroad & killing those Indians who are staying in India...wow what a great govt the Indians outside India have got...Even ppl outside India are wondered to ask without voting this govt they have got such great supporting govt...wow..
NO SINGLE MEASURES TAKE TO CONTROL DOWNFALL OF RUPEE...ITS LIKE A GOVERMENT WIOTHOUT FINANCE MINISTER.
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Rajesh Dsouza, Mangalore
Tue, Aug 27 2013@sujith madivala,will send Dubai visa to you then let see where you will keep money...In Indian bank or in UAE bank...
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SUJITH POLALI, MANGALORE
Tue, Aug 27 2013@ Rajesh Dsouza, Mangalore
If congress rules as again five years its not only to me you have to send visa to everyone..
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Rajesh Dsouza, Mangalore
Tue, Aug 27 2013SUJITH POLALI, MANGALORE...not congress if BJP will come to power in central all other religion people has to leave country due to communal and religious fight.
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Vinay, Mangalore
Tue, Aug 27 2013My friend in 2009 dongi congi come to power that time amul babys age is 43 and dollar value also same now in 2013 dollar value is 67 same to our sonia madam think in 2014 it will be 83 y our moun singh is there
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Rajesh Shetty, Mlore-Shj
Tue, Aug 27 2013Added to this is the Govts cheap votebank gimmicks of importing food from foreign countries for higher price and distributing to fool public and make them lazy. All naatak till elections. Deficit gap increasing day by day, congress pushing nation towards bankruptcy.
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Dinesh Poojary, Kundapura/Bengaluru
Tue, Aug 27 2013Sonia and MMS are batting very well. Soon will hit century...
Thanks to 2g, cwg, 3g, ajji, bajji, coalgate, pepsodent scams...
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Dinesh Poojary, Kundapura/Bengaluru
Tue, Aug 27 2013I wonder where is the congress spoke person Mr. Perinje now? Accrding to him Rupees should have reached 45 now after FDI approval.
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Sandesh Shetty, Bangalore/Kudla
Tue, Aug 27 2013Even the Mapusa man missing
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Rajesh Shetty, Mlore-Shj
Tue, Aug 27 2013Mapusa man is busy making 5 cents layout in his 47 acre Land which he inherited bfore something else goes wrong and he may have left out only with 23.5 acres.
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CONRAD JOHN TAURO, SHIRVA/UDUPI/DUBAI
Tue, Aug 27 2013Weak Currency With Weak Economy Turnishes Indias Image.
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