Rupee falls 23 paise to early low of Rs 52.26 per dollar
The Indian rupee fell by 23 paise to an early low of 52.26 per US dollar on Monday on persistent dollar demand from banks and importers despite dollar weakness in overseas markets.
The rupee resumed lower at Rs 52.09/10 per dollar on the Interbank Foreign Exchange, as against last weekend's close of 52.03/04 per dollar, and moved down further to Rs 52.26 per dollar before quoting at Rs 52.23/24 per dollar at 1030 hours.
The domestic currency moved in a range between Rs 52.10 and Rs 52.26 per dollar during morning deals.
Sustained dollar demand from banks and importers mainly affected the rupee value against the dollar, a forex dealer said.
Meanwhile, crude oil weakened in Asian trade today as investors maintained a cautious outlook despite backing from EU leaders for a deal aimed at saving the euro zone, analysts said.
New York's main contract, light sweet crude for January delivery, dropped 18 cents to USD 99.23 a barrel.
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