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Rupee Down 10 Paise Against Dollar in Early Trade

Thursday, March 28, 2013
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Mumbai: The rupee lost 10 paise to Rs.54.46 against the U.S. dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against euro overseas.

Increased month-end demand for the dollar from importers also put pressure on the rupee.

Dealers attributed the rupee's fall to dollar gains against the euro overseas and a lower opening in the stock market.

The rupee had lost 19 paise to close at Rs.54.36 on Tuesday against the dollar due to month-end demand for the US currency from importers. The forex market remained closed yesterday for holi festival.

Meanwhile, the BSE benchmark Sensex fell by 58.85 points, or 0.31 percent at 18,645.68 in early trade.

In the Asian region, Hong Kong's Hang Seng index down 0.33 percent, while Japan's Nikkei fell 1.56percent in early trade. The US Dow Jones Industrial Average ended 0.23 percent lower.

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Source: PTI
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