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Rupee weakens to 2-week low
July, 19th 2010

The rupee today lost 27 paise to trade at a two-week low against the US currency in early trade largely on foreign fund capital outflows from equities and increased demand for dollar from importers. At the Interbank Foreign Exchange (Forex) market, the domestic unit was trading 27 paise lower at 47.04 a dollar, a level last seen on July 7.

The rupee had closed lower by 17 paise at 46.77/78 against the US dollar in the previous session on Friday. Dealers said fresh foreign capital outflows from equities and dollar demand from importers and banks also on the rupee sentiment. Meanwhile, the Bombay Stock Exchange benchmark index Sensex fell 99.42 points, or 0.55 per cent, to 17,856.40
points in opening trade today.

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