Rupee down 7 paise against dollar

Tags: Rupee, News
Falling for the fourth straight day, the rupee today weakened by 7 paise to Rs 59.22 per dollar in early trade on the Interbank Foreign Exchange market, weighed down by dollar's gains against other currencies.

Forex dealers said besides dollar's gains against other currencies overseas, increased demand for the American currency from importers put pressure on the rupee.

They said, however, a higher opening in the domestic equity market ahead of RBI policy meeting capped the rupee's losses.

The rupee had lost 4 paise to close at 59.15 against the US dollar in yesterday's trade due to sustained demand for the US currency from importers, amid firm dollar overseas.

Meanwhile, the benchmark BSE Sensex rose by 70.89 points, or 0.29 per cent, to 24,755.74 in early trade today.

EDITORIAL OF THE DAY

  • Reserve Bank must be commended for holding policy rate

    The Reserve Bank of India has been prudent in retaining repo rate at 7.25 per cent.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

Smart idea? Tweak and implement

India is at the cusp of a startup boom. We ...

Rajgopal Nidamboor

Be mindful and you can beat the odds

It is as obvious as apparent can be. When our ...

Dharmendra Khandal

Go spot a gecko

Iam sure you must have read about how a lizard ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture