Rupee drops by 23ps vs dollar

Dec 30, 2011 |

mumbai

Tags:

The Indian rupee fell by 23 paise to Rs 53.30 per US dollar in early trade on Friday on persistent month end demand for the American currency from importers despite a lower dollar in overseas markets and a higher opening in the equity market.

The rupee resumed lower at Rs 53.15/16 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.07/08 per dollar, and moved down further to Rs 53.30 per dollar before quoting at Rs 53.19/20 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 53.08 and Rs 53.30 per dollar during morning deals.

"Sustained month-end dollar demand from oil companies mainly affected the rupee value against the dollar," a forex dealer said.

The BSE benchmark Sensex was up by 95.83 points, or 0.62 per cent, at 15,639.76 at 1015 hours.

Meanwhile, crude oil rose in Asian trade today, spurred by heightened tensions between the US and major crude producer Iran, analysts said. Crude for February delivery advanced by 47 cents to USD 100.12 a barrel.

In New York, the dollar moved down against the euro yesterday, bringing the shared currency off a 15-month low after a pair of positive US economic reports gave a boost to equities and reduced the appeal of the greenback as a safe haven investment.

Post new comment

<form action="/comment/reply/116599" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd></li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-95b2d7bc6423c356a88e980b9486cf04" value="form-95b2d7bc6423c356a88e980b9486cf04" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="83976226" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>