Rediff.com » Business
Rupee down 27 paise against dollar in morning trade
May 25, 2012 11:07 IST
The rupee depreciated by 27 paise to Rs 55.92 against the American currency in early trade today on stronger dollar against euro and Asian currencies.
Forex dealers said besides dollar's gains in the overseas markets on persistent eurozone worries, a weak opening in the stock market
also put pressure on the local unit.
However, the Reserve Bank's indication that it may sell dollars directly to oil companies capped the losses.
The rupee had ended higher by 35 paise at 55.65 after plunging to a new intra-day low of Rs 56.38 against the dollarin the previous session.
Meanwhile, the BSE benchmark Sensex declined by 69.50 points, or 0.43 per cent, at 16,152.80 in early trade.
Recommended by Rediff.com
Re rebounds from life-time lows; back to 55-level
Oil, banking stocks fuel rally, Nifty ends above 4,900
How important is Dr Singh's visit to Myanmar?
How to choose a non-resident account
Rupee, weak global cues drag markets
© 2024 Rediff.com