Money & Banking

Rupee weakens against dollar

PTI Mumbai | Updated on March 17, 2011

The rupee dropped by 19 paise to 45.30 against the American currency in the morning trade on renewed dollar demand from banks and importers amid lower dollar overseas and weak equity markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency opened lower at 45.22/23 per dollar against the previous close of 45.11/12 per dollar and declined further to 45.30. At 10.30 a.m., the rupee was quoting at 45.26/27 per dollar.

It hovered in a range of 45.20 and 45.30 per dollar in the morning deals.

However, in New York market, the Japanese yen touched a new high against the US dollar on Wednesday as concerns over the nuclear situation in Japan intensified, weighing heavily on the US and European stock markets.

Published on March 17, 2011

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