Late dollar rush pulls down rupee by 24 paise
July 11, 2012 18:45
In a see-saw trade, the rupee today pared most of its early gains to close down by 24 paise at 55.63 on emergence of dollar buying at fag-end of trade by importers and banks.
Weak trends in local stocks with Sensex dropping by 129 points also weighed on rupee but some capital inflows limited its decline to some extent, forex dealers said.
At the Interbank Foreign Exchange market, the domestic unit commenced sharply lower at 55.72 a dollar from yesterday's close of 55.39. Soon after it touched an intra-day low of 55.73 as worries over monsoon aggravated.
Weak trends in local stocks with Sensex dropping by 129 points also weighed on rupee but some capital inflows limited its decline to some extent, forex dealers said.
At the Interbank Foreign Exchange market, the domestic unit commenced sharply lower at 55.72 a dollar from yesterday's close of 55.39. Soon after it touched an intra-day low of 55.73 as worries over monsoon aggravated.
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