Rupee Falls 17 Paise v/s Dollar

Mumbai: The Indian rupee fell by 17 paise to 50.01 against the American currency in late morning trade on fresh dollar demand from banks and importers on the back of higher dollar in the overseas market. The rupee resumed lower at 49.92/93 per dollar at the Interbank Foreign Exchange (Forex) market against the last weekend’s level of of 49.84/85 per dollar and dropped further to 50.01 per dollar before quoting at 49.97/98 per dollar at 10.30 a.m. The domestic currency hovered in a range of 49.87 per dollar and 50.01 per dollar during the morning deals. Fresh dollar demand from banks and importers in view of higher dollar in international market mainly affected the rupee value against the dollar, a forex dealer said. In Sydney market, the dollar extended its sharp gains in the early trade after last week’s strong jobs report in the US.