INDIAN RUPEE SLIDES 16 PAISE AGAINST DOLLAR
Rupee weakened by 16 paise to 68.23 against the dollar in
early trade today, halting its two-day rising streak following month-end demand
from importers and banks for the American currency which strengthened overseas.
Indian
Rupee weakened by 16 paise to 68.23 against the dollar in early trade
today, halting its two-day rising streak following month-end demand from
importers and banks for the American currency which strengthened overseas.
Forex dealers said increased demand for the dollar
kept pressure on the rupee but a higher a opening in the domestic equity
market capped the fall. The rupee had gained 8 paise to close at 68.07
on Wednesday on selling of dollars by banks and exporters amid lower
greenback overseas.
The forex market remained closed yesterday for
the Republic Day.Meanwhile, the benchmark BSE Sensex rallied 147.57
points, or 0.53 per cent, at 27,855.71 in early trade.
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