| Date: |
25-11-2011 |
| Subject: |
Rupee Loses 15 Paise Against US Dollar in Early Trade |
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MUMBAI: The Indian rupee lost 15 paise to Rs 52.21 per US dollar in early trade on the Interbank Foreign Exchange on Friday amid appreciation of the American currency against the euro and other rivals overseas and a weak opening in the domestic equity market.
Increased demand for the American currency from banks and importers also put pressure on the rupee.
Dealers attributed the rupee's fall to dollar gains against the euro on account of the debt crisis engulfing the common currency region, in addition to losses registered by other Asian peers overseas amid a lower opening in the domestic stock market.
The rupee had closed 29 paise higher at Rs 52.06/07 per US dollar in yesterday's trade after its eight-day losing streak was checked by fresh selling of the dollar by exporters.
Meanwhile, the BSE benchmark Sensex was down by 151.47 points, or 0.95 per cent, at 15,707.02 in opening trade today.
Source : timesofindia.indiatimes.com
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