 "Rupee turns weak; down 43 paise in early trade")
After a day's relief, the rupee today fell by 43 paise to 58.22 against the dollar in early trade due to increased demand for the US currency from banks and importers amid a weak opening in local equities.
Dealers said besides increased demand for dollar from importers, a weak opening in the domestic equity market, mainly put pressure on the local unit.
The rupee had gained a whopping 60 paise to close at 57.79 against the dollar yesterday as rating agency Fitch revised India's credit outlook to stable and government officials soothed market sentiment with assurance of taking steps to curb the currency's fall.
Meanwhile, the BSE benchmark Sensex dipped below the 19,000 level by falling 225.56 points, or 1.18%, to 18,815.57 in early trade today.
Dealers said besides increased demand for dollar from importers, a weak opening in the domestic equity market, mainly put pressure on the local unit.
The rupee had gained a whopping 60 paise to close at 57.79 against the dollar yesterday as rating agency Fitch revised India's credit outlook to stable and government officials soothed market sentiment with assurance of taking steps to curb the currency's fall.
Meanwhile, the BSE benchmark Sensex dipped below the 19,000 level by falling 225.56 points, or 1.18%, to 18,815.57 in early trade today.
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 →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
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
SAVE 25%