Indian rupee trades lower on Interbank Foreign Exchange trade as Greece debt issue faded market sentiment, which in turn escalated dollar demand from foreign investors. The talk between Greece Government and Institutional lender has extended today as the issue of pension cut remained as a sticking point.
The ruling opposition parties of Greece had agreed upon all the points incorporated in the agreement without pension fund cut on Wednesday. Consequently, the issue has been deferred to be discussed today by the political leaders.
The market had reacted negatively to the delay showing by the Greece leaders to resolve debt crisis in the economy. The greenback of six currencies tracking dollar index soared on Thursday trade after the euro dipped due to negative news.
Rupee dipped 16 paise to Rs.49.32 per dollar during the last trade in the foreign exchange trade as the negative inflow of foreign fund in the local stock market and importers demand for dollar dampened market sentiment.
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