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The rupee was down 3 paise at Rs 49.46/47 per US dollar at 10.30 a.m. today after moving in a wide range during morning trade.
The rupee resumed lower at Rs 49.60/61 per dollar on the Interbank Foreign Exchange as against last weekend’s close of Rs 49.43/44 per dollar and dropped further to Rs 49.70 per dollar on good month-end dollar demand from importers.
However, it recovered afterward to Rs 49.34 per dollar before quoting at Rs 49.46/47 per dollar on selling of dollars by banks and corporates due to uncertainty in the currency market.
In the Sydney market, the euro got off to a wobbly and volatile start as investors reacted cautiously to mixed news on Europe’s escalating debt crisis.
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