Diabytes
Rupee drops 11 paise to 62.42 vs dollar in trade
The rupee dropped 11 paise to 62.42 against the dollar Tuesday on demand for the US currency from banks and importers amid subdued local stocks.
Trending Photos
7- 6
- 12
- 6
Mumbai: The rupee dropped 11 paise to 62.42 against the dollar Tuesday on demand for the US currency from banks and importers amid subdued local stocks.
The rupee resumed lower at 62.40 per dollar compared with the previous close of 62.31 at the interbank foreign exchange market. It hovered in a range of 62.43 to 62.34 and was quoted at 62.42 per dollar at 1045 hrs.
Banks and importers sought to increase their dollar positions, a forex dealer said. Capital outflows from foreign funds also affected market sentiment as foreign institutional investors sold shares worth a net Rs 318.91 crore yesterday.
In New York, the dollar fell against other major currencies yesterday after a December reading on the US services sector came in below market expectations.
In the local stock market, the benchmark 30-share Sensex dropped 106.61 points, or 0.51 percent, to 20,680.69 at 1030 hrs.
The rupee resumed lower at 62.40 per dollar compared with the previous close of 62.31 at the interbank foreign exchange market. It hovered in a range of 62.43 to 62.34 and was quoted at 62.42 per dollar at 1045 hrs.
Banks and importers sought to increase their dollar positions, a forex dealer said. Capital outflows from foreign funds also affected market sentiment as foreign institutional investors sold shares worth a net Rs 318.91 crore yesterday.
In New York, the dollar fell against other major currencies yesterday after a December reading on the US services sector came in below market expectations.
In the local stock market, the benchmark 30-share Sensex dropped 106.61 points, or 0.51 percent, to 20,680.69 at 1030 hrs.
 "DNA: Analysis of BJP's first victory in Lok Sabha elections")
 "DNA: 'Mountain' of garbage in Delhi is giving competition to Qutub Minar")
 "DNA: Shocking report on plastic")
 "DNA: What is Bengal teacher recruitment scam?")
 "DNA: What did the mother of Love Jihad case accused Fayaz tell?")
 "DNA: Dangers of Using Counterfeit Airbags")
 "DNA: Modi Wave vs Heatwave in 2024 Lok Sabha Elections?")
 "DNA: Will Israel fight alone against Muslim countries?")
 "DNA: Is there plastic in your blood too?")
 "DNA: Threat of nuclear war?")
