Money & Banking

Rupee weakens against dollar

| | Updated on: Feb 23, 2011

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.

Published on February 23, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you