Rupee slips; trades at 53.52 for a dollar

October 23, 2012 12:15

The rupee failed to maintain its early gains and slipped by five paise to trade at 53.52 against the US currency on fresh dollar demand from banks and importers amidst weak local equity markets.

The rupee resumed higher at 53.40 per dollar against the last closing level of 53.47 per dollar and improved further to 53.36 per dollar at the Interbank Foreign Exchange (Forex) Market on selling of dollars by some banks and exporters.

However, it failed to maintain early gains on fresh dollar demand from banks and moved down to 53.56 per dollar, before quoting at 53.52 per dollar at 1050 hrs.

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