Rupee weaker ahead of RBI rate decision, opens 38 paise down:

t

The rupee on Friday lost 38 paise to 62.15 against the US dollar in early trade on the Interbank Foreign Exchange due to fresh demand for the US currency from importers, ahead of the RBI' s mid-quarter policy review amid a lower opening in the domestic equity market.

The rupee had surged 161 paise, to close at a more than one-month high of Rs. 61.77 against the dollar in Thursday's trade, supported by the US Federal Reserve's surprise decision on retaining its stimulus programme.

Dealers attributed the rupee's fall to a cautious approach adopted by participants ahead of the RBI's mid-quarter monetary policy review later in the day and a weak opening in the domestic equity market but dollar's weakness against other currencies overseas, restricted the fall.

Meanwhile, the BSE benchmark Sensex fell by 60.47 points, or 0.29%, to at 20,586.17 in early trade.

 

anand

pgdm-ISEM