TH:Rupee down by 43 paise against dollar in early trade
The Indian rupee was down by 43 paise to Rs. 49.58 per U.S. dollar in early trade today on fresh dollar demand from banks and importers and a weak trend in the domestic equity market.
The rupee resumed lower at Rs. 49.25/26 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs. 49.15/16 per dollar, and dropped further to Rs. 49.58 per dollar before quoting at Rs. 49.53/54 per dollar at 1030 hours.
Forex dealers said fresh dollar demand from banks, importers and oil refiners and a lower opening in the domestic stock market mainly put pressure on the rupee.
Meanwhile, world oil prices were mixed in Asian trade in a market clouded by concerns over the struggling U.S. economy and discord over a rescue plan for troubled euro zone nations.
In morning trade, New York’s main contract, light sweet crude for November delivery, was down by 8 cents at USD 86.03 a barrel.
The Bombay Stock Exchange benchmark Sensex was down by 279.90 points, or 1.64 per cent, at 16,805.44 at 1015 hours.
