Rupee posts biggest monthly fall; gains for second day

MUMBAI Sat Aug 31, 2013 2:47am IST

1 of 2. A customer counts currency outside a currency exchange shop in Kolkata August 29, 2013.

Credit: Reuters/Rupak De Chowdhuri

Related Topics

MUMBAI (Reuters) - The rupee posted its biggest monthly fall in at least 18 years but gained for a second straight session on Friday as aggressive central bank intervention and positive local and regional cues helped.

The rupee's 8.1 percent fall is likely the worst performance for the currency ever, but data beyond 1995 was not immediately available.

The partially convertible rupee closed at 65.70/71 per dollar, up 1.3 percent on the day. It had closed at 66.55/56 on Thursday, after gaining 3.5 percent, in its biggest single-day gain in 15-1/2 years.

On the week, the rupee declined 3.8 percent, its worst weekly performance since the week to September 23, 2011.

(Reporting by Swati Bhat; Editing by Subhranshu Sahu)

FILED UNDER:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage