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This is an archive article published on May 11, 2010

Rupee slips to 44.96 against dollar

Rupee eased by 12 paise in early trade on Tuesday on capital outflows by foreign funds.

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The rupee eased by 12 paise to 44.96 a dollar in early trade on Tuesday on capital outflows by foreign funds from equities.

The rupee closed sharply higher by 64 paise,the biggest single-day gain in nearly 12 months at 44.84/85 a dollar in the previous session,on heavy selling of the US currency.

Forex dealers said capital outflows by foreign funds from equities caused the rupee to depreciate.

Meanwhile,the Bombay Stock Exchange index,Sensex,fell by 92.07 points,or 0.53 per cent to 17,238.48 points in the opening trade on Tuesday.

 

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