5:16 pm - Monday May 22, 0073

Rupee down 8 paise against dollar in early trade

657 Viewed Alka Anand Singh Comments Off on Rupee down 8 paise against dollar in early trade

Breaking a three-day winning run, the rupee on Wednesday lost 8 paise to 62.02 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency overseas.


Forex dealers said apart from month-end demand for the American currency from importers, dollar gaining against other currencies overseas also put pressure on the local unit, but a higher opening in the domestic equity market capped the fall.

The domestic currency had gained 13 paise to close at one-week high of 61.97 against the dollar on Tuesday amid positive stock markets and signs of continued capital inflows.

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