Indian rupee down 12 paise against US dollar due to appreciation of the American currency overseas

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Mumbai | Updated: April 7, 2015 10:53:02 AM

The Indian rupee dropped 12 paise at 62.31 against the US dollar in early trade today at the Interbank Foreign Exchange...

Indian Rupee, US dollar, Rupee to dollar, Rupee vs dollar, dollar rate, Interbank Foreign Exchange, BSE SensexIndian rupee dropped 12 paise at 62.31 against the US dollar. (Reuters)

The Indian rupee dropped 12 paise at 62.31 against the US dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.

Forex dealers said fresh demand for the dollar from importers also weighed on the local currency but a higher opening in the domestic equity market limited the rupee’s losses.

The rupee had ended 30 paise higher at 62.19 against the American currency in yesterday’s trade on sustained selling of dollars by banks and exporters on hopes of foreign capital inflows in view of strong equity market.

Meanwhile, the benchmark BSE Sensex rose by 105.71 points, or 0.37 per cent, at 28,610.17 in early trade.

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