Rupee weaker tracking regional shares

Rupee weaker tracking regional shares

Mumbai: The Indian rupee fell on Thursday dragged by losses in regional share markets and the dollar’s strength against major currencies.

At 1:50pm the partially convertible rupee was at Rs48.10/1150 per dollar, weaker than Wednesday’s close of Rs47.98/48.00. It fell to a low of Rs48.20 in early deals.

Indian shares fell as much as 1.3% on Thursday as sentiment was hit by losses in global markets, with the expiry of monthly derivatives contract keeping trade volatile.

The MSCI’s measure of Asian markets excluding Japan was down 1.195.

The dollar index, which measures the dollar’s value against a basket of six major currencies, was up 0.37% at $76.331.