Rupee down 14 paise against dollar in early trade
The rupee today lost 14 paise to 54.40 against the dollar in early trade on the Interbank Foreign Exchange due to strengthening of the US currency overseas.business Updated: Apr 03, 2013 10:30 IST
The rupee on Wednesday lost 14 paise to 54.40 against the dollar in early trade on the Interbank Foreign Exchange due to strengthening of the US currency overseas.
Dealers attributed the rupee's fall to dollar gains against the euro and yen overseas boosted by solid US economic data and a bleak outlook for the troubled euro-zone.
Besides, a lower opening in the stock market also put pressure on the rupee, they said.
The rupee had gained three paise to close at 54.26 on Tuesday in line with strong local equities amid some dollar selling by exporters.
Meanwhile, the BSE benchmark Sensex fell by 66.26 points, or 0.34%, at 18,974.69 in early trade on Wednesday.
First Published: Apr 03, 2013 10:28 IST