Rupee down 18 paise against dollar in early trade
The rupee on Friday lost 18 paise to 60.26 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the U.S. currency from importers.
Forex dealers attributed the rupee’s fall to increased dollar demand from importers amidst rising global crude prices but said that a higher opening in the domestic equity market and euro’s strength against the U.S. currency capped the fall to some extent.
The rupee on Thursday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08 as the American currency weakened on U.S. Fed keeping its policy of ultra-low interest rates intact. Meanwhile, the benchmark BSE Sensex rose by 45.08 points, or 0.18 per cent, to 25,246.88 in early trade on Friday.