The rupee was down by 8 paise at 45.35 per US dollar in the early trade today amid month-end dollar demand from banks and importers and the dollar’s gains overseas.
The domestic unit opened slightly lower at 45.28/29 per dollar at the Interbank Foreign Exchange market against the previous close of 45.26/27 per dollar. It moved in a range between 45.20 and 45.35 per dollar in the morning deals.
Month-end dollar demand from banks and importers at lower levels mainly affected the rupee value against the American currency, a forex dealer said.
The US dollar made a comeback against major currency rivals on Tuesday following comments from a European official that raised the prospects for an interest rate hike by the European Central Bank.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.