Rupee falls by 7 paise against dollar in early trade | business | Hindustan Times
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Rupee falls by 7 paise against dollar in early trade

The Indian rupee on Wednesday depreciated by seven paise to quote at 48.82 against the US currency in early trade on month-end dollar demand from importers and refiners.

business Updated: Aug 26, 2009 11:10 IST

The Indian rupee on Wednesday depreciated by seven paise to quote at 48.82 against the US currency in early trade on month-end dollar demand from importers and refiners.

Forex dealers said apart from demand from refiners and importers, a firming US dollar against some leading currencies also put pressure on the Indian rupee.

They said, however, expectations of more capital inflows by foreign funds as stock markets may continue its upward journey on Wednesday in line with other firm Asian markets, capped rupee's losses to some extent.

At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted seven paise lower at 48.82 a dollar. The rupee had lost 14 paise to close at 48.75/76 against the US currency yesterday.

The Bombay Stock Exchange benchmark Sensex yesterday gained nearly 60 points on an upsurge in IT, consumer durables and refinery sectors.