The Indian rupee fell by 20 paise to an early low of Rs 52.26 per US dollar today on good demand for the American currency from banks and importers in view of a higher dollar in overseas markets.
The rupee resumed lower at Rs 52.15/16 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 52.06/07 per dollar, and dropped further to Rs 52.26 per dollar before quoting at Rs 52.08/09 per dollar at 1100 hours.
The domestic currency moved in a range between Rs 52.06 and Rs 52.26 per dollar during morning deals.
Good dollar demand from banks and importers, mainly oil refiners, on the back of a higher dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
In Singapore, the euro dipped to a fresh seven-week low against the dollar in early trade, with markets seeing no end in sight to the euro zone debt crisis.
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