R rebounds from 7-week low vs dollar | business | Hindustan Times
Today in New Delhi, India
Nov 23, 2017-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

R rebounds from 7-week low vs dollar

The rupee declined by 38 paise to hit a seven-week low of Rs 50.74 against the American currency in early trade today at the Interbank Foreign Exchange market on foreign fund outflows and strong dollar overseas.

business Updated: Mar 07, 2012 21:22 IST

The rupee declined by 38 paise to hit a seven-week low of Rs 50.74 against the American currency in early trade on Wednesday at the Interbank Foreign Exchange market on foreign fund outflows and strong dollar overseas.

Dealers said besides foreign fund outflows after a meltdown in equity market, dollar gains against other Asian currencies mainly pulled down the local currency to a level last seen on January 18.

Meanwhile, the BSE benchmark Sensex lost 117.83 points, or 0.69%, to 17,055.46 in early trade.

The rupee had breached the 50-level mark after a gap of nearly six weeks by losing a hefty 52 paise to 50.36/37 against the dollar on Tuesday.