The Indian rupee snapped its four-session winning rally by slipping 12 paise to Rs 44.54 per US dollar in early trade today on fresh demand for the American currency from banks and corporates on the back of a higher dollar overseas.
The rupee resumed lower at Rs 44.47/48 per dollar on the Interbank Foreign Exchange as against yesterday's close of Rs 44.42/43 and dropped further to Rs 44.54 per dollar before being quoted at Rs 44.51/52 per dollar at 1030 hours.
The domestic currency moved in a range between Rs 44.47 and Rs 44.54 per dollar in morning deals.
Renewed dollar demand from banks and corporates in view of the firming dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
The US dollar index gained against major rivals in early trade in the Sydney market today, with investors still wary of Europe's sovereign debt problems.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app