Rupee down by 43 paise in morning trade | business | Hindustan Times
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Rupee down by 43 paise in morning trade

The Indian rupee breached the 51 level in the morning trade as oil refiners stepped up dollar buying at the month-end amid weak equity markets.

business Updated: Mar 30, 2009 12:05 IST

The Indian rupee breached the 51 level in the morning trade as oil refiners stepped up dollar buying at the month-end amid weak equity markets.

In active trade at the Interbank Foreign Exchange (forex) market, the domestic currency resumed weak at 50.90/92 a dollar against its previous close of 50.58/59 and later fell to 51.03 level before being quoted at 50.96/97 a dollar in late morning trade.

Forex dealers said the rupee came under pressure as oil refiners stepped up dollar purchases ahead of the month-end for their import payments.

They said the local unit also moved downwards as equity markets opened weak on Monday morning.

The Indian benchmark Sensex was down by 273 points at 1030 hrs.