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Rupee inches down on weak shares; dlr eyed

business Updated: May 18, 2010 11:01 IST
Reuters
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Rupee edged lower on Tuesday morning as a weak start to local shares weighed on sentiment, while the dollar's gains against major currencies added to the pressure.

At 9:10 am the partially convertible rupee <INR=IN> was at 45.67/68 per dollar, weaker than 45.62/63 at close on Monday, when it had hit 45.77 during trade, its weakest since March 5.

The index of the dollar <.DXY> against six major currencies was up 0.3 per cent. However, most Asian currencies were stronger compared to the dollar, helping limit the rupee's drop.

The euro dipped on Tuesday, its trend seen weak despite a rebound from a four-year trough, due to persistent investor jitters over the euro zone's fiscal woes and concerns that austerity steps could hurt the region's growth. [USD/]

Indian shares <.BSESN> fell 0.3 per cent early on Tuesday, with financials leading the decline, amid mixed Asian markets.

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