Rupee down 25 paise against US dollar in early trade
Press Trust of India / Mumbai Oct 27, 2009, 10:07 IST
Continuing with its yesterday's losses, the Indian rupee today depreciated by another 25 paise to 46.89 against the US currency in early trade, largely on the back of dollar's gains against other Asian units.
Apprehensions that capital outflow would continue as the equity markets may remain weak in line with the other Asian markets, which were down by up to 1.7 per cent, also put pressure on the rupee.
At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 25 paise lower at 46.89 a dollar in early trade. Yesterday, the rupee ended 14 paise down at 46.64/65 against the US currency.
Dealers said dollar's rise against other regional units and demand for the US currency from importers, particularly oil refiners, mainly weighed on the rupee sentiment.
In morning trade today, Japan's Nekkei was lower by 1.36 per cent, while Hong Kong's Hang Seng was down by 1.48 per cent.
Back home, the BSE benchmark Sensex had lost 70.31 points in yesterday's trade.
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