Rupee down 10 paise vs USD in early trade

Traders said dollar strengthening along with demand for USD from oil importers,put pressure on rupee.

Written by Agencies | Mumbai | Published: March 22, 2012 10:53:07 am

The rupee today lost 10 paise to touch a new two-month low of 50.77 against the dollar on the Interbank Foreign Exchange market in early trade,following increased demand for the American currency from importers.

Forex traders said dollar strengthening against euro and other currencies and a subdued start in the stock market,along with demand for the US currency from oil importers,mainly put pressure on the rupee.

The rupee had lost 28 paise to close at a two-month low of 50.67/68 against the dollar yesterday.

Meanwhile,the BSE benchmark Sensex down by 51.93 points,or 0.29 per cent,to 17,549.78 in early trade.

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