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Indian rupee down as shares seen opening down

The Indian rupee weakened on Tuesday as weak Asian cues suggested a subdued opening of domestic shares with the dollar's strength against major currencies further weighing on the local unit.

business Updated: Nov 23, 2010 10:21 IST

The Indian rupee weakened on Tuesday as weak Asian cues suggested a subdued opening of domestic shares with the dollar's strength against major currencies further weighing on the local unit.

At 9:06 a.m., the partially convertible rupee was at 45.5750/5800 per dollar, weaker than 45.405/415 at close on Monday. It fell as low as 45.5850 per dollar in early deals its lowest since Sept. 24.

The MSCI index of Asian stocks ex-Japan was down over 1 percent and the Nifty India stock futures traded in Singapore was down 0.9 percent, suggesting a weak pening for local stocks.

The dollar index, which tracks the greenback's performance against a basket of major currencies, was up 0.18 percent at 78.827. Most Asian currencies were also weaker compared with the dollar.

The euro came under renewed pressure in Asia on Tuesday as political uncertainty in Ireland and worries about other peripheral euro zone members snuffed out initial optimism over a bailout plan for Dublin.