Mumbai, Dec 23 Continuing its weakness for the third straight day, the Indian rupee today depreciated by another 30 paise against the greenback in early trade on heavy dollar demand from importers and state-run banks amids weakening Asian currencies and stock markets.
At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 48.33 against the US currency, a fall of 30 paise over the previous close of 48.02/48.03 a dollar.
Dealers said dollar firmness against the basket of Asian currencies and increased demand for the greenback and bearish Asian markets mainly put pressure on the Indian rupee.
Meanwhile, among Asian bourses, Hong Kong's Hang Seng index fell by nearly 3.75 per cent in early trade, while the Bombay Stock Exchange benchmark Sensex closed 171.56 points, or 1.70 per cent down at 9,928.35 points yesterday.
The rupee fell the most by 76 paise, or 1.6 per cent yesterday to close at a one-week low of 48.02/03 against the US currency. (Agencies)
Dec 23, 2008
