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HindustanTimes Fri,18 Apr 2014

Rupee down 16 paise vs dollar in early trade

PTI  Mumbai, March 04, 2013
First Published: 09:48 IST(4/3/2013) | Last Updated: 09:50 IST(4/3/2013)

The rupee on Monday weakened by 16 paise to trade at nearly two-month low of 55.05 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers.


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Forex dealers said besides dollar's gains against euro and yen overseas, increased demand from oil importers for the American currency and a weak opening in the stock market also put pressure on the rupee.

The rupee fell by a whopping 53 paise to close at nearly two-month low of 54.89 against the US dollar in the previous session on Friday.

Meanwhile, the BSE benchmark Sensex fell by 59.46 points, or 0.31%, to 18,859.46 in early trade on Monday.

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