| Date: |
23-05-2011 |
| Subject: |
Rupee Down By 25 Paise vs Dollar |
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The Indian rupee fell by 25 paise to 45.26 against the US dollar Monday on sustained demand for the American currency from banks and importers amid a higher dollar in overseas markets and weakness in the domestic equity market.
Forex dealers said strengthening of the dollar against major currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.
At the Interbank Forex Exchange, the rupee resumed lower at 45.14/15 per dollar as against the previous closing level of 45.01/02 per dollar and moved down further to 45.26 at 1030 hours.
The rupee moved in a range between 45.14 and 45.26 per dollar in morning deals.
The dollar was higher against the euro in early trade Monday, getting a lift against its European counterpart amid renewed fears about eurozone sovereign debt.
Meanwhile, oil was down in Asian trade Monday after the investor sentiment took a hit amid worries about weak US demand, analysts said. New York''s main contract, light sweet crude for July delivery, lost 95 cents to USD 99.15 a barrel.
The Bombay Stock Exchange benchmark Sensex was down by 169.20 points, or 0.92 per cent, at 1050 hours.
Source : news.in.msn.com
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