E-Paper
Rupee eases by 5 paise versus $US in the morning trade
The Indian rupee declined by five paise to 44.50 against the American currency in the morning trade on month-end dollar demand from importers and banks coupled with higher dollar in overseas market.
The Indian rupee declined by five paise to 44.50 against the American currency in the morning trade on month-end dollar demand from importers and banks coupled with higher dollar in overseas market.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened slightly lower at 44.47/48 per dollar as against the yesterday's closing level of 44.45/46 per dollar and moved down further to 44.50 per dollar before quoting at 44.49/50 at 1030 hours.
It moved in a range of 44.42 per dollar and 44.50 per dollar in the morning deals.
Month-end dollar demand from importers coupled with firm dollar in overseas market mainly affected the rupee value against the dollar, a forex dealer said.
In New York market, the dollar rose to its highest level in a week yesterday buoyed by hopes that next week's US Federal Reserve's meeting might result in smaller easing steps.
