Mumbai: The Indian rupee fell by 9 paise to Rs 45.76 per US dollar in early trade today on month-end dollar demand from importers, coupled with a higher dollar overseas amid weak local equity markets.
The rupee resumed lower at Rs 45.70/71 per dollar on the Interbank Foreign Exchange as against its previous close of Rs 45.67/68 and hovered in a range between Rs 45.60 and Rs 45.76 before quoting at Rs 45.72/73 per dollar at 1030 hours.
Month-end dollar demand, especially from oil refiners, mainly affected the rupee value against the dollar, a forex dealer said.
Persistent capital outflows from foreign funds in view of weak equity markets, coupled with a higher dollar in overseas markets, were the other factors behind the fall in the rupee value.
The dollar edged slightly higher against a basket of currency rivals in New York yesterday as US stock indices pared gains, forcing currency traders to adjust their...
