Business

Rupee down 4 paise against dollar in early trade

  • PTI, Mumbai
  • |
  • Updated: Jan 29, 2013 11:02 IST

The rupee today fell marginally by 4 paise to trade at fresh one-week low of 53.95 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas and a weak opening in the domestic equity market.

Increased month-end demand for the dollar from banks and 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 23 paise to close at one-week low of 53.91 a dollar in yesterday's trade on heavy demand from importers for the American currency.

Meanwhile, the BSE benchmark Sensex was down by 30.86 points, or 0.15%, at 20,072.49 in early trade today.

 

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