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Forex »
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Rupee weakens by 18 paisa
December, 17th 2009

The Indian rupee today weakened by 18 paisa to 46.85 against the US dollar in early trade on fresh dollar demand from importers on the back of strong dollar in overseas market amidst subdued local stocks.

The domestic currency resumed lower at 46.80/81 a dollar from its last close of 46.67/68 before being quoted at 46.78/79 a dollar in late morning deals.

Dealers at the Interbank Foreign Exchange (Forex) market said importers purchased dollar in early trade amidst a weak trend in equity markets.

Indian benchmark Sensex was flat with a downward bias this morning, while Asian indices showed a mixed trend.

The dollar strengthened further in overseas markets after the US Federal Reserve said on Wednesday it will keep rates low for an extended period.

 
 
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