Indian rupee down 17 paise against dollar in early trade

By: | Updated: December 8, 2014 10:01 AM

The rupee weakened by 17 paise to 61.94 against the US dollar.

The rupee weakened by 17 paise to 61.94 against the US dollar in early trade on fresh demand for the American currency. (Reuters)The rupee weakened by 17 paise to 61.94 against the US dollar in early trade on fresh demand for the American currency. (Reuters)

The India rupee weakened by 17 paise to 61.94 against the US dollar in early trade on fresh demand for the American currency from banks and importers.

Gains in the US dollar against major global currencies after data last week showed a better-than-expected jump in US jobs creation put pressure on Indian unit, dealers said.

Fresh demand for the American unit from importers also weighed on the Indian rupee.

Besides, a lower opening of the domestic equity markets, weighed the Indian rupee, they said.

The rupee had rebounded 15 paise to close at two-week high of 61.77 against the dollar at the Interbank Foreign Exchange on Friday.

Meanwhile, the benchmark BSE Sensex fell by 77.17 points, or 0.27 per cent, to 28,380.93 in early trade.

 

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition