HindustanTimes Tue,16 Sep 2014

Rupee falls 22 paise against dollar in early trade

PTI  Mumbai, August 01, 2014
First Published: 09:42 IST(1/8/2014) | Last Updated: 09:44 IST(1/8/2014)

The rupee lost 22 paise to over three-month low of 60.77 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on increased capital outflows amidst demand for the American currency from importers.

Besides, a weak trend in other currencies against the dollar overseas and a lower opening in the domestic equity market put pressure on the local unit, forex dealers said.

The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.

Meanwhile, the benchmark BSE Sensex was down by 187.69 points, or 0.72%, to 25,707.28 in early trade on Friday.

more from Business

Govt to decide on diesel deregulation after state polls

The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved