The rupee seems to have lost its winning charm. As it continues loosing, the value of rupee today opened at a price that was 5 paise lower in the opening trade to 46.93 as against the US dollar. This has been because of the qualms about the capital inflows by foreign funds.
The Interbank Foreign Exchange Market (Forex) the unit in the domestic sector of the market was traded at a price that was down at 46.93 for a dollar. At the end of the day, the rupee had fallen down by 21 paise at 46.88 / 89 points as against the dollar. This was according to results that yesterday’s session had bough about after the Bombay Stock Exchange session benchmark which saw the Sensex go down at 18.52 points which is about 0.11 % below.
Forex dealers who have known the market inside out have also begun to show a bit of apprehensions. According to them the foreign capital would not stick to the markets. This they mentioned is largely a contribution because of the cues that are gradually gaining a week point from the Asian markets. This was down by 0.94 points during the early hours of trade in the morning, while the dollars were being bought by importers. This is one reason why it created a huge burden on the Indian Rupee.
