Rupee falls to 51.75 against dollar

Rupee fell by 5 paise against US currency in early trade on Monday on increased dollar demand.

Written by Agencies | New Delhi | Published:March 9, 2009 9:40 am

The Indian rupee fell by 5 paise against the US currency in early trade on Monday on increased dollar demand from importers and expectations of more capital outflows as stock markets may open in negative zone in line with subdued trend in other Asian markets.

At the Interbank Foreign Exchange (Forex) market,the domestic currency was quoted at 51.75 a dollar,down by five paise from its previous close of 51.70/71.

The rupee had closed 7 paise higher at 51.70/71 a dollar in choppy trade on Friday last week.

Dealers said increased demand for dollar from importers and concerns over fresh capital outflows by foreign funds mainly weakened the rupee.

Meanwhile,among Asian stock markets,the Japan’s Nikkei fell by 1.45 per cent,while Hong Kong’s Hang Seng lost 1.64 per cent in early trade.

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