Rupee loses 30 paise to 1 month low against dollar

Wednesday, 07 July 2010, 23:14 IST   |    5 Comments
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Rupee loses 30 paise to 1 month low against dollar
Mumbai: The Indian rupee dropped by 30 paise to an one-month low of 47.20 against the U.S. dollar on the back of persistent demand from importers and banks as the American currency firmed up overseas. At the Interbank Foreign Exchange, the domestic unit opened lower at 46.92/93 per dollar against yesterday's close of 46.90/91 per dollar and fell further to 47.20 per dollar before being quoted at 47.05/06 per dollar at 1030 hrs. Persistent dollar demand from importers and bank in view of a higher dollar overseas affected the rupee value against the US currency, a forex dealer said. The dollar pared losses after trading near a two-month low against the euro in New York yesterday. Oil prices edged up in tepid Asian trade today. New York's main contract, light sweet crude for delivery in August, rose 13 cents to $72.11 a barrel.
Source: PTI
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