Business Standard

Rupee down 13 paise vs dollar in early trade

Image

Press Trust of India Mumbai

Besides dollar's gains against the euro and other currencies overseas on fresh concerns over defeat of ruling parties in France and Greece elections, a weak opening in the equity market put pressure on the domestic currency, traders said.

However, they said some measures announced by the RBI late on Friday to attract inflows in view of falling rupee, restricted the losses.

The RBI raised the interest rate ceiling on NRI deposits in foreign currencies by up to 3 per cent and deregulated interest rates on export finance.

Meanwhile, the BSE benchmark Sensex lost 289.85 points, or 1.72 per cent, at 16,541.23 in early trade.

 

The rupee had lost six paise to close at 53.47/48 against the dollar in the previous session on Friday.

  

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 07 2012 | 10:15 AM IST

Explore News