The Indian rupee fell by 22 paise to Rs 53.24 per US dollar in early trade on Wenesday on persistent month-end demand for the American currency from importers on the back of a higher dollar in overseas markets.
The rupee resumed lower at Rs 53.10/11 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.02/03 per dollar, and dropped further to Rs 53.24 per dollar before quoting at Rs 53.20/21 per dollar at 1030
hours.
The domestic currency moved in a range between Rs 53.03 and Rs 53.24 per dollar during morning deals.
Month-end dollar demand from importers, mainly oil refiners, coupled with a higher dollar in overseas markets, affected the rupee value against the dollar, a forex dealer said.
In Hong Kong, the US dollar edged slightly higher against the euro and a few other major currencies in early trade, but its movement was restricted to a tight range as trading activity was thin toward the end of the year.
© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
The Indian rupee fell by 22 paise to Rs 53.24 per US dollar in early trade on Wenesday on persistent month-end demand for the American currency from importers on the back of a higher dollar in overseas markets.