| Date: |
08-08-2011 |
| Subject: |
Rupee Down By 26 Paise Against US Dollar |
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MUMBAI: The Indian rupee depreciated by 26 paise to trade at Rs 45 per US dollar for the first time in five weeks in early trade on the Interbank Foreign Exchange today, weighed down by dollar gains against other Asian currencies overseas and a subdued trend in the equity market.
Forex dealers said strengthening of the dollar against other Asian currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.
They said the rupee depreciated for first time in five weeks after a global equities rout following the US rating downgrade, which triggered concerns about foreign fund outflows.
The rupee ended 20 paise lower at Rs 44.74/75 against the American currency in the previous session on the back of dollar-selling by exporters and some banks.
Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 512.80 points to 16,793.07 in opening trade today.
Source : timesofindia.indiatimes.com
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