Dollar hits new 15-year low versus yen

Money dealers trade under an electric foreign exchange quotation board at a Tokyo foreign exchange market on October 25, 2010. – AFP Photo

TOKYO: The dollar hit a fresh 15-year low of 80.66 yen in Tokyo trading hours Monday as the greenback resumed its slide, amid continued expectations of more easing measures in the United States.

Investors resumed selling the greenback after G20 economies agreed to avoid tit-for-tat currency devaluations but did not set specific targets at a two-day meeting, dealers said.

Pressure mounts on rupee as dollar demand surges

KARACHI: The rupee lost about 75 paisa against the US dollar so far and was likely to remain under tremendous pressure since the exchange market was made responsible to bear the burden of oil import bill.
 
‘The old days’ strategy returned to exchange market after the private sector was again given the responsibility to pay entire oil import bill forcing the rupee to depreciate against the US dollar amid sharp surge in demand for the greenback during a week,’ said a currency expert.