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Rupee down 7 paise against dollar in early trade

Rupee vs dollar

Mumbai, Dec 9 (PTI) The rupee depreciated by another 7 paise to 61.90 against the US dollar in early trade today at the Interbank Foreign Exchange on sustained demand for the American currency from banks and importers amid a weak opening in the equity market.

Besides, widening current account deficit to USD 10.1 billion or 2.1 per cent of GDP in July-September quarter of this fiscal, up from 1.2 per cent a year-ago, also weighed on the trading sentiment.

Forex dealers said besides dollar’s gains against other currencies in the global markets, increased demand for the American unit from importers and a lower opening in the domestic equities also contributed to rupee’s fall.

The rupee had fell from its two-week high and ended 6 paise down at 61.83 against the greenback in yesterday’s trade on fresh dollar demand from importers.

Meanwhile, the benchmark BSE Sensex rallied by 62.53 points, or 0.22 per cent, to 28,056.87 in early trade today.

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