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Rupee falls to 50.03 a dollar in opening trade

The Indian rupee on Thursday crossed the crucial 50-mark against the US dollar in opening trade owing to heavy capital outflows by funds on expectation of weak opening of the domestic stock markets.

business Updated: Feb 26, 2009 09:43 IST
PTI

The Indian rupee on Thursday crossed the crucial 50-mark against the US dollar in opening trade owing to heavy capital outflows by funds on expectation of weak opening of the domestic stock markets.

At the Interbank Foreign Exchange (Forex) market, the local currency, which last touched the 50-level on February 18, fell by nine paise to 50.03 against the greenback.

The domestic unit had ended lower by seven paise at 49.94/95 a dollar on Wednesday.

The benchmark Sensex settled higher by over 80 points or 0.91 per cent on Wednesday, but dealers said expectations of a weak opening of the bourses put pressure on the domestic unit.

First Published: Feb 26, 2009 09:42 IST