India rupee snaps 5-day gain, down 29 paise at 61.33 vs dollar

Indian rupeeA mixed trend in dollar against other overseas currencies and a lower opening in the domestic equity market puts pressure on the rupee.

The rupee snapped its five-day rising streak against the American currency and fell by 29 paise at 61.33 per dollar in early trade today at the Interbank Foreign Exchange market on fresh dollar demand from importers.

Besides an increased demand for the dollar from importers, a mixed trend in the American currency against other overseas currencies and a lower opening in the domestic equity market also put pressure on the rupee, forex dealers said.

The rupee had gained 9 paise to close at four-month high of 61.04 against the dollar in yesterday's trade on selling of the US currency by exporters and banks amid heavy capital inflows.

Meanwhile, the BSE benchmark Sensex fell by 90.40 points, or 0.43 per cent, at 21,164.86 in early trade today.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus