Re down 11 paise against$ in early trade

The Indian rupee today fell to touch a seven-week low of 49.03 against the US currency in early trade on month-end $ demand from importers amid expectation that the local bourses would open on a weak note.

Forex dealers said hardening of $ against major Asian currencies also influenced the rupee sentiment.

They said month-end $ demand from importers, particularly refiners, and expectation that the stock market may open lower in tandem with other Asian bourses, which are down up to 1.75 per cent in morning trade, weighed on the rupee.

At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted 11 paise lower at 49.03 a $ against its previous close of 48.92.

 

The Bombay Stock Exchange benchmark Sensex yesterday gained over 80 points on an upsurge in IT, tech and realty sectors.