NC:Rupee down 10 paise against dollar in early trade
Due to appreciation of the greenback against other currencies overseas, the rupee on Wednesday further lost 10 paise to 62.85 against the dollar in early trade on the Interbank Foreign Exchange market, thus continuing its losing streak.
Forex dealers said besides dollar’s strength against euro and other currencies overseas, increased demand for the dollar from importers also put pressure on the rupee, but a higher opening in the domestic equity market capped the losses.
The rupee closed 15 paise lower to 62.75 a dollar in Tuesday’s trade on month-end demand from importers.
Meanwhile, the BSE benchmark Sensex rose by 58.28 points, or 0.29 per cent, to 19,978.49 in early trade on Wednesday.
