Rupee down 31 paise against dollar

The rupee today lost 31 paise to trade at fresh four-and-a-half-month low of Rs 53.72 against the US dollar in early trade on the Interbank Foreign Exchange market due to increased demand for the American currency from importers.

Written by Agencies | Mumbai | Published:May 4, 2012 10:31 am

The rupee today lost 31 paise to trade at fresh four-and-a-half-month low of Rs 53.72 against the US dollar in early trade on the Interbank Foreign Exchange market due to increased demand for the American currency from importers.

Dealers attributed the rupee’s fall to a lower opening in the stock market and strong demand for the American currency from importers.

The domestic unit had lost a hefty 45 paise to close at four-and-a-half-month low of 53.41/42 against the US currency yesterday,owing to strong dollar demand from importers amid weak equities.

Meanwhile,the BSE benchmark index Sensex today fell by 84.35 points,or 0.49 per cent,to 17,066.84.

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