Money & Banking

Rupee falls on dollar demand

Our Bureau Mumbai | Updated on January 05, 2011


The rupee fell against the greenback on Tuesday under pressure due to dollar demand from importers. It opened at 44.67 and strengthened to an intra-day high of 44.64. It weakened to close at 44.98, down 28 paise from the previous close of 44.70/71.

It opened flat against the greenback. Dollar outflows on account of oil-related payments led to the rupee's fall, said a dealer with a public sector bank. In the overseas market, the dollar gained initially but fell as euro and sterling rallied.

In the forward premium market, there was receiving interest from exporters. The six-month premium ended at 6.53 per cent and the one-year ended at 5.70 per cent.

Published on January 05, 2011

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