1. Indian rupee down 12 paise against dollar in late morning trade

Indian rupee down 12 paise against dollar in late morning trade

The Indian rupee fell by seven paise to 61.48 against the dollar in early trade today at the Interbank Foreign Exchange due...

By: | Mumbai | Updated: January 29, 2015 1:02 PM

The rupee fell by 12 paise to 61.53 against the American currency in late morning trade today on month-end dollar demand from importers.

The rupee resumed lower at 61.44 as against yesterday’s closing level of 61.41 at the Interbank Foreign Exchange (Forex) and moved down further to 61.54 before quoting at 61.53 at 1100 hours.

The local currency hovered in a range of 61.42 and 61.54 during late morning trade.

Month-end dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar, a forex dealer said.

However, strong foreign capital inflows into equity market restricted the rupee’s fall, he added.

In the New York market, the dollar inched higher against the euro and pound yesterday afternoon after the Federal Reserve’s policy statement included no clear guidance about its rate hike plans.

Meanwhile, the benchmark BSE Sensex dropped by 117.39 points, or 0.40 per cent, to 29,441.79 at 1100 hrs.

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Tags: Indian Rupee

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