Mumbai: The rupee today weakened by 12 paise to 61.91 against the dollar in early trade at
the Interbank Foreign Exchange market due to demand for the US currency from importers.
Forex dealers said besides dollar’s gains against other currencies overseas, increased demand from
importers for the American currency also put pressure on the rupee.
They said, however, a higher opening of the domestic equity market, capped the fall. The rupee had
gained 16 paise to close at over one-week high of 61.79 against the US dollar on Tuesday after exporters
sold the American currency as the forex and money marketsremained closed yesterday for “Christmas”
holiday. Meanwhile, the BSE benchmark Sensex recovered by 54.38 points, or 0.25 %, to 21,087.09 in
early trade today.
Bureau Report
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