Re opens weak

After the overnight appreciation by over about ten paise, the rupee once again opened weak against the dollar on some dollar purchases at sharply lower levels and reduced inflows on bourses.

On the Interbank Foreign Exchange market here, the rupee opened moderately lower at Rs 43.72/75 per dollar against yesterday's close of Rs 43.67/68 and later were quoted weakner at Rs 43.7250/7350 per dollar during late morning dealings.

The Japanese Yen hit a fresh five-year high points against the dollar in London market yesterday on speculation that Europe was pushing for stronger Asian currencies to help offset the impact of a weak dollar on eurozone economies, according to forex dealers.

Meanwhile, economists were looking ahead to Wednesday's publication of US inflation data, set to be analysed closely for signs of inflationary pressures building in the world's largest economy and whether the Federal Reserve would need to raise interest rates more aggressvely than previously thought.

Turning to cross currency trades, the Euro was quoted at Rs 56.95 the Pound Sterling at Rs 81.24 and Japanese Yen (100) at Rs 44.79.