Indian Rupee falls against dollar
Continuing its weakness for the third straight day, the Indian rupee
today depreciated by another 30 paise against the greenback in early
trade on heavy dollar demand from importers and state-run banks amides
weakening Asian currencies and stock markets.
At the Interbank Foreign Exchange (Forex) market, the domestic
currency traded at 48.33 against the US currency, a fall of 30 paise
over the previous close of 48.02/48.03 a dollar.
Dealers said dollar firmness against the basket of Asian currencies
and increased demand for the greenback and bearish Asian markets mainly
put pressure on the Indian rupee. PTI