Friday, July 19, 2013

Rupee down 17 paise against dollar in morning trade

Mumbai: 19 Jul 2013

Rupee on Friday lost 17 paise to 59.84 against dollar in the morning trade at Interbank Foreign Exchange market due to increased demand for the US currency from importers. The slump comes two days after the national currency had hit a two-week high at 59.10.

Forex dealers attributed rupee\'s fall to sustained dollar demand from importers but said that a higher opening in the domestic equity market and euro\'s strength against the US currency in global markets capped the fall to some extent.

The rupee had closed 33 paise lower at 59.67 per dollar in Thursday's trade on US Federal Reserve\'s comment on tapering monetary stimulus by this year-end strengthened the dollar.

Meanwhile, the BSE benchmark Sensex rose by 102.20 points, or 0.50 percent, to 20,230.61 in the morning trade on Friday.
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