Rupee at 8-week low

Mumbai: The Indian rupee weakened by 21 paise to trade at nearly an 8-week low of Rs 45.07 against the US dollar in early trade on the Interbank Foreign Exchange today, largely in line with weakness in other Asian currencies against the US dollar overseas. The rupee closed 13 paise higher at Rs 44.86/87 against […]

Odishatv Bureau
  • Published: Monday, 16 May 2011
  • Last updated: 16 May 2011, 10:39 AM IST

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Mumbai: The Indian rupee weakened by 21 paise to trade at nearly an 8-week low of Rs 45.07 against the US dollar in early trade on the Interbank Foreign Exchange today, largely in line with weakness in other Asian currencies against the US dollar overseas.

The rupee closed 13 paise higher at Rs 44.86/87 against the dollar in Friday`s trade due to fresh selling of the greenback by banks and exporters and gains in the equity market.

Forex dealers said weakness of the euro, which slid to a six-week low, and other currencies against the dollar overseas and a lower opening the domestic stock market mainly put pressure on the rupee sentiment.

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