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Rupee down 5 paise to 55.49/dollar

Besides dollar demand from oil importers, lower opening in equity market weigh on rupee

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Press Trust of India Mumbai
Last Updated : Jan 24 2013 | 2:10 AM IST

The rupee declined by 5 paise to 55.49 against the dollar in early trade today, extending yesterday's losses, on the Interbank Foreign Exchange on continued demand for the American currency.

Besides dollar demand from oil importers, a lower opening in the equity market also put pressure on the local unit, forex dealers said.

They, however, added that dollar's weakness against euro and other currencies overseas restricted the rupee's losses.

Meanwhile, the BSE benchmark Sensex fell by 89.40 points, or 0.50%, to 17,677.38.

The rupee had lost 8 paise to end at 55.44 against the dollar in yesterday's session on fresh dollar demand from importers.

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First Published: Sep 11 2012 | 10:10 AM IST

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