| Date: |
16-05-2011 |
| Subject: |
Rupee at 8-week low, down 21 paise against $ in early trade |
|
The Indian rupee weakened by 21 paise to trade at nearly an 8-week low of Rs. 45.07 against the U.S. dollar in early trade on the Interbank Foreign Exchange today, largely in line with weakness in other Asian currencies against the US dollar overseas.
The rupee closed 13 paise higher at Rs. 44.86/87 against the dollar in Friday’s trade due to fresh selling of the greenback by banks and exporters and gains in the equity market.
Forex dealers said weakness of the euro, which slid to a six-week low, and other currencies against the dollar overseas and a lower opening the domestic stock market mainly put pressure on the rupee sentiment.
Source : thehindu.com
|