Rupee down 15 paise against dollar in early trade | business | Hindustan Times
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Rupee down 15 paise against dollar in early trade

The Indian rupee today fell further by 15 paise against the US currency in early trade as sharp losses in Asian equities raised concerns of more capital outflows by funds from the domestic stock markets.

business Updated: Feb 24, 2009 11:25 IST

The Indian rupee on Tuesday fell further by 15 paise against the US currency in early trade as sharp losses in Asian equities raised concerns of more capital outflows by funds from the domestic stock markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency was quoted at 49.87 a dollar, a fall of 15 paise over the previous close of 49.72/74 a dollar.

The domestic unit had depreciated by 11 paise at 49.72/74 against the dollar on Friday. Forex market remained closed yesterday on account of "Mahashivratri".

Dealers said concerns of capital outflows by funds on fears that the domestic stock markets may open sharply lower in tandem with other Asian bourses mainly put pressure on the Indian rupee.

Meanwhile, Hong Kong's Hang Seng fell by 3.72 per cent, Japan's Nikkei shed 2.60 per cent, while Singapore's Strait Times moved down by 2.47 per cent in early trade on Tuesday.