Rupee depreciates by 3 paise Vs dollar in early trade
Rupee falls marginally by 3 paise against dollar in late morning deals following sustained capital outflows and weak equity markets.business Updated: Jun 23, 2008 12:55 IST
Rupee on Monday fell marginally by 3 paise against dollar in late morning deals following sustained capital outflows and weak equity markets.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at 42.96/97 a dollar from previous close of 42.93/94 per dollar.
Foreign Institutional Investors (FIIs) were net sellers to the tune of more than US $ 1.8 billion in the current month so far and nearly US $ 5.7 billion in the current calender year till June 19, mainly pushed the rupee downwards.
Most of the Asian indices were trading in the red this morning with the Indian Benchmark Sensex was being down by over 213 points in early trade.
There was some dollar demand from oil refiners as the global crude oil prices remained high near USD 136 a barrel in Asian trade on Monday.