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The rupee declined further by 6 paise to Rs 46.10 per US dollar in the early trade today on persistent dollar demand from importers, coupled with a higher dollar in overseas markets.
The rupee resumed slightly lower at Rs 46.05/06 per dollar at the Interbank Foreign Exchange market against yesterday’s close of Rs 46.04/05 per dollar. It dropped further to Rs 46.10 per dollar before quoting at Rs 46.07/08 per dollar at 10.30 a.m.
The domestic currency hovered in a range between Rs 46.00 and Rs 46.10 per US dollar during the morning deals.
Sustained dollar demand from importers, mainly oil refiners, and persistent foreign capital outflows in view of weak equity markets affected the rupee value against the dollar, a forex dealer said.
The US dollar moved to a three-week high against the yen and gained against the euro in New York yesterday on news that the International Monetary Fund is likely to consider the release of the next tranche of bailout funds to debt-stricken Greece in end-September.
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