Rupee weakens in early trade
Importers are covering up their requirements after Diwali holiday yesterday
)
<a href="http://www.shutterstock.com/pic-107101346/stock-photo--indian-rupees-high-resolution-seamless-texture-indian-money-seamless-texture.html" target="_blank">Online</a> image via Shutterstock
The rupee weakened in early trade today due to dollar demand from importers, who are covering up their requirements after the Diwali holiday yesterday.
At 9:10 am, the rupee was trading at Rs 61.88 compared with Friday's close of Rs 61.74 per dollar.
The rupee on Friday had dropped by 24 paise to close at more-than two-week low of Rs 61.74 against the dollar due to sustained demand from importers for the strengthening US currency.
Monday was a holiday on the occasion of Diwali.
At 9:10 am, the rupee was trading at Rs 61.88 compared with Friday's close of Rs 61.74 per dollar.
The rupee on Friday had dropped by 24 paise to close at more-than two-week low of Rs 61.74 against the dollar due to sustained demand from importers for the strengthening US currency.
Monday was a holiday on the occasion of Diwali.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 05 2013 | 9:26 AM IST