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Forex »
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Rupee down 13 paise
December, 04th 2009

The rupee on Friday depreciated by 13 paise at 46.24 against the US dollar in opening trade largely on apprehensions that foreign funds would flow out amid a weak trend in other Asian markets.

Dollar's gains against other Asian currencies also put pressure on the rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 13 paise down at 46.24 a dollar. It had closed 27 paise higher at 46.11/12 against the dollar yesterday after the Sensex ended marginally up by 16 points.

Forex dealers said fears that foreign funds would exit domestic bourses following a weak pattern in other Asian markets weighed heavily on the rupee sentiment.

The Asian stocks today opened lower following the US that ended in the red yesterday.

Shares of Hong Kong's index Hang Seng were down 0.88 per cent in early trade today.

On December 3, the Dow Jones Industrial Average had closed 86.91 points down at 10,365.77.

Also dollar's gains against other Asian units weighed on the Indian rupee, they added.

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