Indian rupee down 18 paise against US dollar in early trade

Jun 20 2014, 10:03 IST
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Indian rupee seen trading at 60.07/60.10 against US dollar in the offshore NDF market. (Reuters) Indian rupee seen trading at 60.07/60.10 against US dollar in the offshore NDF market. (Reuters)
SummaryThe rupee yesterday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08.

Indian rupee today lost 18 paise to 60.26 against the US dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US 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 US currency capped the fall to some extent.

The rupee yesterday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08 as the American currency weakened on US Fed keeping its policy of ultra-row 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 today.

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