Indian Rupee Falls Another 25 paise to 61.52 against US Dollar

The Indian rupee fell for the second day amid volatility in the stock markets, dropping 25 paise to 61.52 against the US dollar on 21 October on persistent demand from importers and banks as the US currency strengthened overseas.

The Indian rupee opened at 61.35 per dollar as against the previous close of 61.27 at the interbank foreign exchange market. It dropped further to 61.58 before ending at 61.52, a loss of 25 paise or 0.41 per cent.

The US stimulus programme has been credited with fuelling a global equities rally for most of the year. The US central bank said in September that it would not wind down the programme if there was no broad improvement in the US economy.