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Forex »
 Perils of an ad hoc forex policy
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
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Rupee mostly steady, stocks eyed
June, 10th 2008

Rupee was barely moved on Tuesday as traders waited for the stock market to open for direction. At 9:03 am, the partially convertible rupee was at 42.86/87 per dollar, barely moved from Monday's close of 42.87/88 to a dollar on Monday.

It hit a 13- month low of 43.21 in late May. Sensex fell 3.25 per cent to its lowest close in nearly three months on Monday. It shed 5.1 per cent last week and is down about 26 per cent so far in 2008.

Foreigners have dumped $4.7 billion of Indian stocks this year, pushing the rupee lower by 8 per cent.

Last year, the rupee rose more than 12 per cent, driven by $17.4 billion of capital inflows into the record-breaking stock market.

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