| Date: |
25-08-2011 |
| Subject: |
Rupee Loses 17 Paise Against US Dollar in Early Trade |
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MUMBAI: Continuing on its downward spiral, the Indian rupee lost another 17 paise to Rs 46.16 per US dollar in early trade on the Interbank Foreign Exchange today, tracking dollar gains against major currencies overseas.
Month-end demand for the American currency from importers also put pressure on the rupee.
Dealers said month-end dollar demand from importers and weakness of the euro and other Asian currencies overseas mainly depressed the rupee sentiment weak, but gains in the equity market capped the fall.
In yesterday's trading session, the rupee closed down by 36 paise at an 11-month low of Rs 45.99/46.00 against the dollar on heavy demand for the American currency from oil importers.
Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 87.00 points, or 0.53 per cent, to 16,371.98 in opening trade today.
Source : economictimes.indiatimes.com
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