The Indian rupee on Tuesday continued its south-bound journey and fell by nine paise to 47.64 against the dollar in early trade at the forex market, moving in line with weak Asian currencies, on capital outflow by funds in anticipation that local equity markets may open low.
The Indian rupee on Tuesday continued its south-bound journey and fell by nine paise to 47.64 against the dollar in early trade at the forex market, moving in line with weak Asian currencies, on capital outflow by funds in anticipation that local equity markets may open low.
In active trade at the Interbank Foreign Exchange (Forex) market, the local unit, which had depreciated by 44 paise to 47.55/56 yesterday, resumed lower at 47.64.
Forex dealers said a sharp surge in the dollar against the basket of currencies largely weighed on rupee sentiment. Traders attributed the fall in the rupee mainly to bearish equity markets where the Indian benchmark Sensex yesterday dipped by 437.63 points, its third-biggest fall this calendar year.
ADVERTISEMENT
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
