Rupee gains 9 paise against dollar in early trade

Last Updated: Monday, October 22, 2012 - 10:01

Mumbai: The rupee on Monday appreciated by 9 paise to 53.75 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks.

Besides, a lower opening in the equity market and strengthening of the euro against the dollar overseas also supported the rupee, forex dealers said.

The BSE benchmark Sensex fell by 81.43 points, or 0.43 percent, to 18,600.88 in the early trade on Monday.

Borkers said, the Asian shares fell on today as risk sentiment was dented by lacklustre earnings from leading US companies, and a bigger-than-expected fall in exports from Japan, a key driver of the world's third-biggest economy.

The Canadian dollar stood out from the crowd on today, falling to a two-month low as the market positioned for a more dovish Bank of Canada in the wake of tame inflation numbers, while the yen stayed under pressure amid more policy easing expectations.

The rupee Friday fell by a whopping 43 paise to close at one-month low of 53.84 on the back of heavy dollar demand from oil importers and defence companies, extending losses for the second straight day.


First Published: Monday, October 22, 2012 - 10:01

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