Rupee down 12 paise vs dollar in early trade
The rupee weakened to 61.91 against the dollar in early trade at the Interbank Foreign Exchange market due to demand for dollar from importers.
By PTI | Updated:
MUMBAI: The rupee today weakened by 12 paise to 61.91 against the dollar in early trade at the Interbank Foreign Exchange market due to demand for the US currency from importers.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from importers for the American currency also put pressure on the rupee.
They said, however, a higher opening of the domestic equity market, capped the fall.
The rupee had gained 16 paise to close at over one-week high of 61.79 against the US dollar on Tuesday after exporters sold the American currency as the forex and money markets remained closed yesterday for "Christmas" holiday.
Meanwhile, the BSE benchmark Sensex recovered by 54.38 points, or 0.25 per cent, to 21,087.09 in early trade today.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from importers for the American currency also put pressure on the rupee.
They said, however, a higher opening of the domestic equity market, capped the fall.
The rupee had gained 16 paise to close at over one-week high of 61.79 against the US dollar on Tuesday after exporters sold the American currency as the forex and money markets remained closed yesterday for "Christmas" holiday.
Meanwhile, the BSE benchmark Sensex recovered by 54.38 points, or 0.25 per cent, to 21,087.09 in early trade today.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Rupee rebounds, but risks aboundADVERTISEMENT
