TI:Rupee drops by 31 paise vs dollar in mid-session
MUMBAI: Moving in line with the equity market, the rupee dropped 31 paise to 49.81 against the American currency during mid-session on persistent dollar demand from importers.
The rupee resumed lower at 49.72/73 per dollar at the Interbank Foreign Exchange (Forex) market as against Friday's level of 49.50/51 per dollar, and dropped further to 49.81, before quoting at 49.78/79 per dollar at 1145 hrs.
Persistent dollar demand from importers in view of higher crude oil in overseas market mainly affected the rupee value against the dollar, a forex dealer said. Meanwhile, crude oil prices rose in Asian on signs of stronger US economic growth, analysts said. The BSE Sensex tumbled 202 points or 1.15 per cent in the early trade.
