Economy

Rupee down against dollar

PTI Mumbai | Updated on January 06, 2011 Published on January 06, 2011

Dollar’s gains against other Asian currencies along with demand for the US dollar from importers put pressure on the rupee. -- P.V. Sivakumar   -  Business Line

The rupee declined by 11 paise to Rs 45.43 a dollar on continuing dollar demand from banks and importers.

At the Interbank Foreign Exchange (forex) market, the domestic unit resumed lower at 45.40/41 per dollar as against the yesterday’s closing level of 45.32/33 per dollar and moved down further to 45.43 per dollar before quoting at 45.33/34 per dollar at 10.30.

Persistent dollar demand from banks and importers in view of dollar appreciating against other currencies in overseas market dragged the Indian currency’s value against the dollar, said a forex dealer.

The dollar in New York market yesterday extended its gains by one per cent against the Euro and Japanese Yen after the US data showed a strong jump in private hiring last month, fuelling optimism over the country’s economic outlook.

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Published on January 06, 2011
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