Rupee breaches 56-level, down 12 paise against US dollar
The rupee today again breached the 56-level by falling 12 paise to 56.05 against the US dollar in early trade on the Interbank Foreign Exchange.business Updated: Jun 19, 2012 10:28 IST
The rupee on Tuesday again breached the 56-level by falling 12 paise to 56.05 against the US dollar in early trade on the Interbank Foreign Exchange on increased demand for the American currency from banks and importers.
Dealers said besides increased dollar's demand from banks and importers, RBI's decision to keep all key rates unchanged and global rating agency Fitch lowering India's credit outlook to negative mainly put pressure on the domestic unit.
The rupee had lost 53 paise to close at two-week low of Rs 55.93 against the dollar in the previous session after RBI did not deliver the widely expected interest rate cut.
Meanwhile, the BSE benchmark Sensex recovered by 88.13 points, or 0.53%, at 16,793.96 in early trade.