Rupee down 16 paise against dollar in early trade
Forex dealers said besides dollar's gains against other currencies overseas, higher dollar demand from oil importers for the American currency put pressure on the rupee.
Mumbai: The rupee on Wednesday fell by 16 paise to 54.53 against the dollar in early trade at the Interbank Foreign Exchange market in line with weak local equities, following withdrawal of support by DMK to the Congress-led UPA government, despite RBI cutting its short-term lending rate.
Forex dealers said besides dollar's gains against other currencies overseas, higher dollar demand from oil importers for the American currency put pressure on the rupee. The rupee had lost 20 paise to close at 54.37 against the dollar on Tuesday.
Meanwhile, the BSE benchmark Sensex fell by 107.22 points, or 0.56 per cent, to 18, in early trade on Wednesday.
- 'Silly' Sam Allardyce Says Error of Judgment Led to Shock Exit
- Sam Allardyce Exit Leaves England a Laughing Stock Yet Again
- Saamna Cartoonist Expresses Regret Over Cartoon That Triggered Protests
- 'Deeply Disappointed' Sam Allardyce Resigns as England Manager
- Former Israeli Prime Minister, Nobel Prize Winner Shimon Peres Passes Away
- 'Daring Voice of India's Pride' at UNGA Wins Applause From AAP
- UNGA: Sushma Says Kashmir Integral Part of India; Asks Pakistan To Stop Dreaming
- Indian Minister Disowned UN Resolutions in Speech: Pakistan