ET:Rupee falls by 65 paise to 62.42 against dollar
MUMBAI: Extending some of the initial losses, the rupee went down by 65 paise to 62.42 against the US dollar in the late morning trade.
The rupee resumed lower at 62.05 per dollar as against the last closing level of 61.77 at the Interbank Foreign Exchange ( Forex) Market.
It moved down further to 62.20 per dollar on good demand for the US currency from banks.
However, it recovered afterwards to 61.90 before quoting 62.42 per dollar in late morning deals.
In New York market, the dollar recovered slightly against most major rivals yesterday but still looked bruised following the beating it took after the Federal Reserve maintained its pace of monetary stimulus.
In Asian markets, crude oil prices extended losses today as investors took profits after a recent rally.
