Rupee Down 7 Paise Against US Dollar In Early Trade
MUMBAI: The Indian rupee depreciated by 7 paise to Rs 44.34 against the US dollar in early trade on the Interbank Foreign Exchange on Wednesday, weighed down by dollar gains against other Asian currency rivals and a lower opening in the domestic stock market.
Forex dealers said strengthening of the dollar against other Asian currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.
The rupee ended 20 paise lower at Rs 44.27/28 against the American currency in the previous session due to fresh demand for the dollar from importers and banks amid weak equity markets.
Meanwhile, the Bombay Stock Exchange benchmark Sens*x fell sharply by 223.32 points, or 1.23 per cent, to 17,886.57 in opening trade on Wednesday.
Source : timesofindia.indiatimes.com
Forex dealers said strengthening of the dollar against other Asian currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.
The rupee ended 20 paise lower at Rs 44.27/28 against the American currency in the previous session due to fresh demand for the dollar from importers and banks amid weak equity markets.
Meanwhile, the Bombay Stock Exchange benchmark Sens*x fell sharply by 223.32 points, or 1.23 per cent, to 17,886.57 in opening trade on Wednesday.
Source : timesofindia.indiatimes.com
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