Rupee loses momentum, down 11 paise against dollar
Appreciation of the US currency overseas affected the rupee
)
<a href="http://www.shutterstock.com/pic-49498450/stock-photo-background-created-with-indian-rupee-notes.html" target="_blank">Gold</a> image via Shutterstock
The rupee depreciated 11 paise to 64.03 against the US dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.
Forex dealers said increased demand for the dollar from importers also weighed on the local currency, but a higher opening in the domestic equity market limited rupee's fall.
The rupee had closed higher by 16 paise at 63.92 against the American currency in yesterday's trade on fresh selling of dollars by banks and exporters due to weakness of the greenback in the overseas market.
Meanwhile, the benchmark BSE Sensex rebounded 236.54 points, or 0.89%, to 26,717.79 in early trade.
Forex dealers said increased demand for the dollar from importers also weighed on the local currency, but a higher opening in the domestic equity market limited rupee's fall.
The rupee had closed higher by 16 paise at 63.92 against the American currency in yesterday's trade on fresh selling of dollars by banks and exporters due to weakness of the greenback in the overseas market.
Meanwhile, the benchmark BSE Sensex rebounded 236.54 points, or 0.89%, to 26,717.79 in early trade.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 10 2015 | 9:42 AM IST