In line with weakness in the equity market, the Indian rupee fell by 59 paise to Rs. 49.55 per U.S. dollar in early trade today amid persistent dollar demand from banks and importers in view of dollar firmness in overseas markets.
The rupee resumed lower at Rs. 49.45/46 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs. 48.96/97 per dollar, and moved down further to Rs. 49.55 per dollar before quoting at Rs. 49.42/43 per dollar at 1030 hours.
Sustained dollar demand from banks and importers due to dollar firmness in overseas market mainly affected the rupee sentiment, a Forex
