Rupee down 22 paise against dollar in early trade

The Indian rupee plunged by 22 paise against the greenback in early trade following fresh dollar buying by state-run banks amid weak Asian stock markets.

The Indian rupee on Tuesday plunged by 22 paise against the greenback in early trade following fresh dollar buying by state-run banks amid weak Asian stock markets.

HT Image

At the Interbank Foreign Exchange (Forex) market, the local currency, which gained 82 paise at 48.64/65 on Monday, fell by 22 paise at 48.87 against USD at 0930 hrs.

Dealers in foreign exchange said strengthening of dollar against other major Asian currency also attributed to the fall in rupee.