Rupee down by 8 paise against dollar

June 03, 2011 11:39 am | Updated November 17, 2021 01:25 am IST - Mumbai

The Indian rupee fell by 8 paise to Rs 44.90 per US dollar in early trade today on fresh demand from importers and banks, despite firm domestic equity markets and strengthening of the dollar overseas.

Forex dealers said strengthening of the dollar against some currencies overseas and fresh demand from importers and banks mainly put pressure on the rupee, but the higher opening in the stock market restricted the losses.

At the Interbank Forex Exchange, the rupee resumed slightly higher at 44.80/81 per dollar, but later it declined to 44.85/86 per dollar as against the previous closing level of 44.82/83 per dollar and dropped further to 44.90 at 1030 hours.

The rupee moved in a range between 44.80 and 44.90 per dollar in morning deals.

Meanwhile, the euro hit a one—month high against the dollar yesterday as Greece agreed to new measures to cut its deficit, mitigating fears over its debt crisis and making investors shift their focus to the US economy.

The Bombay Stock Exchange benchmark Sensex was rose by 123.98 points, or 0.67 per cent, at 1015 hours.

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.