ET:Rupee down on broad dollar gains, US economy woes weigh
MUMBAI: The Indian rupee stayed weak in afternoon trade on Monday as the dollar gained overseas with investors seeking safe-haven assets after bleak jobs data on Friday cemented view the United States might be slipping back into a recession.
* Local share index also shed over 1 per cent on global growth concerns and weighed on the rupee, traders said.
* At 1:52 p.m., the partially convertible rupee was at 45.88/90 per dollar, weaker than Friday's close of 45.79/80 when it had gained 0.6 per cent.
* The index of the dollar against six major currencies was 74.970 points, after touching 75.074 points--strongest level since Aug. 5 earlier. It had been 74.506 at close of domestic currency markets on Friday.
* The euro was at $1.4148, from $1.4249 previous close.
* US employment growth ground to a halt in August, reviving recession fears and piling pressure on both President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy.