Rupee loses another 35 paise against dollar

The Indian rupee today fell further by 35 paise against the dollar in early trade following heavy dollar demand from importers and fall in the domestic stock markets on capital outflows by foreign funds on approaching year-end amid weakening Asian currencies.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 49.13 against the US currency, a fall of 35 paise over the previous close of 48.76/78 a dollar.The rupee had lost 181 paise, or 3.86% in the past three sessions.

Forex dealers said dollar firmness against the basket of Asian currencies, increased demand from importers and oil refiners for the greenback and bearish Asian markets continued pressure on the Indian rupee.

Among Asian bourses, Hong Kong's Hang Seng fell nearly 1.31%, while Japan's Nikkei lost 2.69% in early trade today. The Bombay Stock Exchange benchmark Sensex closed 241.50 points, or 2.43% at 9,686.35 points yesterday.