Rupee turns weak against dollar
The rupee, after a better start, turned weak against the US dollar and was quoted at Rs 45.92/93 per dollar at the opening session due to fresh dollar demand.
By PTI |
MUMBAI: The rupee, after a better start, turned weak against the US dollar and was quoted at Rs 45.92/93 per dollar at the opening session due to fresh dollar demand.
In active trading at the Interbank Foreign Exchange (FOREX) market here, the Indian unit started with overnight strength at Rs 45.85/86 per dollar as against yesterday's close of Rs 45.86/87, but soon fell to Rs 45.92/93 during early trade.
The fall in rupee was due to fresh dollar demand from oil companies after world oil prices clawed back some ground on Thursday on fresh bargain hunting after New York crude had tumbled to a six-month low under USD 60 dollars per barrel on news of surging US stockpiles of heating fuel, Forex dealers said.
New York's main contract, light sweet crude for delivery in November, rose by 26 cents to $61.00 per barrel in electronic deals before the official opening of the US market, they added.
Similarly, fresh fall in stock prices at the opening session, when the BSE Sensex tumbled by nearly 100 points on fresh bouts of profit-selling, also dampened the rupee sentiment to some extent, another dealer said.
In active trading at the Interbank Foreign Exchange (FOREX) market here, the Indian unit started with overnight strength at Rs 45.85/86 per dollar as against yesterday's close of Rs 45.86/87, but soon fell to Rs 45.92/93 during early trade.
The fall in rupee was due to fresh dollar demand from oil companies after world oil prices clawed back some ground on Thursday on fresh bargain hunting after New York crude had tumbled to a six-month low under USD 60 dollars per barrel on news of surging US stockpiles of heating fuel, Forex dealers said.
New York's main contract, light sweet crude for delivery in November, rose by 26 cents to $61.00 per barrel in electronic deals before the official opening of the US market, they added.
Similarly, fresh fall in stock prices at the opening session, when the BSE Sensex tumbled by nearly 100 points on fresh bouts of profit-selling, also dampened the rupee sentiment to some extent, another dealer said.
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