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Rupee falls 29 paise
Highlights
India Rupee Falls 29 Paise Against The Dollar, Rupee Down, Rupee Falls 29 Paise. The rupee fell by 29 paise to 62.22 against the dollar in early trade on Thursday at the Interbank Foreign Exchange market as the US currency gained strength.
The rupee fell by 29 paise to 62.22 against the dollar in early trade on Thursday at the Interbank Foreign Exchange market as the US currency gained strength. Forex dealers said besides dollar’s gains against other currencies on hopes of a possible breakthrough in the US budget crisis, fresh demand from importers for the American currency also put pressure on the local currency.
They said a lower opening in domestic equity market too weighed on the rupee. The local currency had depreciated by 14 paise to close at 61.93 against the US currency in the previous session, partially erasing early losses after government data showed India’s trade deficit narrowed to a 30-month low.
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