Economy

Rupee weakens

PTI Mumbai | Updated on January 20, 2011 Published on January 20, 2011

Dollar’s gains against other currencies and a weak opening at the bourses weighed on the rupee sentiment. -- K.K. Mustafah   -  Business Line

The rupee dropped by 20 paise to 45.65 against the US currency in early trade on Thursday on good dollar demand from importers amid weak equity markets.

Month-end dollar demand from importers, mainly oil refiners, affected the rupee value, a dealer said.

At the Interbank Foreign Exchange (forex) market, the local currency opened lower at 45.62/63 a dollar against yesterday’s close of 45.45/46 a dollar and moved down further to 45.65 a dollar.

The rupee was quoted at 45.56/57 a dollar at 10.30 a.m. down by 11 paise against the previous close.

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Published on January 20, 2011
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