Rupee falls 14paise against dollar

Rupee falls 14paise against dollar


Mumbai: The Indian rupee on Monday depreciated further by 14paise against the dollar to Rs47.40/41 in early trade after other Asian currencies eased against the greenback and Asian stock markets opened weak.

The rupee also came under pressure due to fresh demand for the US dollar from importers.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at Rs47.40/41 against the US currency, a fall of 14paise over the previous close of Rs47.26/27 a dollar on Friday.

Dealers said dollar’s strength against some other Asian currencies and subdued trend in Asian equity markets pulled down the rupee for the second straight day.

Traders were awaiting the Indian bourses to open for cues on foreign fund flows.

Among Asian markets, Hong Kong’s Hang Seng was down almost 1.44% in early trade.

Meanwhile, Sensex ended the session on Friday with a modest gain of 23.48 points at 10,099.91.