Summary :-Rupee falls due to month-end demand for the American currency from importers.
The Indian rupee lost 12 paise to 60.72 against the US dollar in early trade today at the Interbank Foreign Exchange market due to month-end demand for the American currency from importers.
Besides, a mixed trend in other Asian currencies against the dollar overseas and a lower opening of the domestic equity market also put pressure on the local unit, forex dealers said.
The domestic currency had gained a massive 47 paise to close at 60.60 on Friday amid heavy selling of the US currency by corporates, exporters and banks.
Meanwhile, the benchmark BSE Sensex was down 27.44 points, or 0.12 per cent, to 22,660.63 in early trade today.
Tanay Tapas
PGDM 1st year
Source :-
The Indian rupee lost 12 paise to 60.72 against the US dollar in early trade today at the Interbank Foreign Exchange market due to month-end demand for the American currency from importers.
Besides, a mixed trend in other Asian currencies against the dollar overseas and a lower opening of the domestic equity market also put pressure on the local unit, forex dealers said.
The domestic currency had gained a massive 47 paise to close at 60.60 on Friday amid heavy selling of the US currency by corporates, exporters and banks.
Meanwhile, the benchmark BSE Sensex was down 27.44 points, or 0.12 per cent, to 22,660.63 in early trade today.
Tanay Tapas
PGDM 1st year
Source :-
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