Rupee drops on rising demand of dollar
The rupee fell by 5 paise to 62.36 against the US dollar in early trade today at the Interbank Foreign Exchange on rising demand for the American currency from importers.
By PTI |
MUMBAI: The rupee fell by 9 paise to 62.40 against the US dollar in early trade today at the Interbank Foreign Exchange on rising demand for the American currency from importers.
Forex dealers attributed the fall in the rupee to the dollar's strength against other global currencies and increased demand for the greenback from importers.
However, a higher opening in the domestic stock market capped the rupee's fall.
The rupee on Friday had lost 7 paise to 62.31 on fresh demand for US dollar from banks and importers as the greenback firmed up overseas on upbeat US jobs data.
Forex dealers attributed the fall in the rupee to the dollar's strength against other global currencies and increased demand for the greenback from importers.
However, a higher opening in the domestic stock market capped the rupee's fall.
The rupee on Friday had lost 7 paise to 62.31 on fresh demand for US dollar from banks and importers as the greenback firmed up overseas on upbeat US jobs data.
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