Rupee down by 12 paise vs dollar

July 28, 2011 10:31 am | Updated 11:43 am IST - Mumbai

The Indian rupee was down by 12 paise at Rs. 44.20 per U.S. dollar in early trade today on fresh dollar demand from banks and importers in view of the recovery of the dollar in overseas markets.

The rupee resumed lower at Rs. 44.16/17 per dollar on the Interbank Foreign Exchange as against the last close of Rs. 44.08/09 per dollar and dropped further to Rs. 44.20 per dollar before quoting at Rs. 44.11/12 per dollar at 1030 hours.

The Indian currency moved in a range between Rs. 44.09 and Rs. 44.20 per dollar in morning deals.

Month-end dollar demand from oil refiners, coupled with the recovery of the dollar in overseas markets, mainly affected the rupee value against the dollar, a forex dealer said.

The U.S. dollar skidded to all-time lows against several currencies in the New York market yesterday as U.S. stocks reeled amid a political stalemate on raising the country’s debt ceiling, but later rebounded.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.