Rupee down 27 paise at 61.89 against dollar in early trade

Mumbai: The rupee lost 27 paise to 61.89 against the US dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency against euro overseas.

Increased demand for the US dollar from importers also put pressure on the rupee.

Dealers attributed the rupee's fall to the American currency's gains against the euro overseas but a higher opening in the domestic stock market capped the fall.

The rupee had closed 12 paise higher at 61.62 a dollar in yesterday's trade on selling of the American currency by banks and exporters.

Meanwhile, the BSE benchmark Sensex rose by 48.46 points, or 0.23 per cent, at 21,023.25 in early trade today.

Rupee trims initial losses, swings to 66.87 against dollar in early trade

The rupee trimmed its early losses but was still quoted down by 32 paise to 66.87 per dollar in late morning trade Friday on month-end demand for the US currency from banks and importers.

The rupee resumed lower at 67.00 per dollar as against the last closing level of 66.55 at the Interbank Foreign Exchange (Forex) Market and dropped further to a low of 67.43 per dollar.

However, it recovered to 66.61 before quoting 66.87 per dollar at 1050 hours.

Month-end dollar demand from importers mainly affected the rupee value, a forex dealer said.

In the global market, the US dollar swung between gains and losses in the early trade, but the currency was poised to notch a weekly advance after Syria-related tensions weighed on risk appetite and aided the greenback.

Oil prices fell in Asian trade as fears eased of an imminent Western military strike against Syria for its alleged use of chemical weapons, analysts said.

New York's main contract, West Texas Intermediate (WTI) for delivery in October, was down USD 1.41 at USD 107.39 a barrel.

Meanwhile, the BSE-30 share index Sensex firmed up by 145 points, or 0.79 per cent, to 18,545.96 at 1055 hours.

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