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Rupee falls 22 paise against dollar in early trade

rupee vs dollor

The rupee dropped 22 paise to 61.29 against the US dollar where BSE Sensex fell by 47.30 points, or 0.22 per cent, to 21,872.49 in early trade today

rupee vs dollorMumbai: The rupee dropped 22 paise to 61.29 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh demand for the American currency from importers.

The rupee had gained 4 paise to close at a new three-month high of 61.07 against the US dollar on Friday helped by heavy capital inflows.

Forex dealers said a weak opening in the domestic equity market also weighed on the rupee, but the dollar’s weakness against the euro limited the fall of the local currency.

Sensex breaches 22,000, Nifty holds 6,500 level

After breaching 22,000 level for the first time, the benchmark BSE Sensex fell 47 points in early trade today on emergence of profit-booking by funds and retail investors tracking weak cues in other Asian markets.

The 30-share barometer hit psychological 22,000 mark for the first time and moved up for a brief period to touch a new record high of 22,005.54. The Sensex, however, slid afterwards to trade 47.30 points lower at 21,872.49 in early trade.

Stocks of metal, IT, healthcare and auto sectors led the fall.

Similarly, the National Stock Exchange index Nifty, after soaring to a life-time high of 6,548.75 at the outset, succumbed to profit-booking and slipped 39.30 points, or 0.60 per cent, to 6,487.35.

Brokers said apart from emergence of profit-booking by funds and retail investors at record levels, a subdued trend in the other Asian bourses following weak China and Japan’s economic data impacted the sentiment here.

Among other Asian markets, Hong Kong’s Hang Seng fell by 1.42 per cent, while Japan’s Nikkei shed one per cent in early trade.

PTI

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