Indian rupee down 16 paise vs US dollar in early trade

Indian rupee

Indian rupee today lost 16 paise to 54.59 against the dollar in early trade on the Interbank Foreign Exchange due to continued capital outflows and increased demand from importers for the US currency.

Besides, dollar's gains against euro overseas also put pressure on the rupee.

Dealers attributed the rupee's fall to increased capital outflows by foreign funds and a lower opening in the stock market.

The rupee had weakened by 17 paise to close at three- week low of 54.43 a dollar in yesterday's trade.

Meanwhile, the BSE benchmark Sensex was down by 172.94 points, or 0.92 per cent, at 18,628.70 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